Logan Capital Management Inc. Sells 278 Shares of Flex Ltd. (NASDAQ:FLEX)

Logan Capital Management Inc. trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,068 shares of the technology company’s stock after selling 278 shares during the quarter. Logan Capital Management Inc.’s holdings in Flex were worth $2,844,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the third quarter worth $29,000. Huntington National Bank lifted its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex during the 3rd quarter valued at about $39,000. Quarry LP purchased a new position in shares of Flex during the second quarter valued at about $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex in the second quarter worth about $46,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Trading Up 0.6 %

FLEX opened at $38.38 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The stock’s 50 day moving average price is $37.07 and its 200-day moving average price is $33.19. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.43 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. Barclays boosted their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $42.67.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.