Atria Investments Inc Reduces Holdings in Flex Ltd. (NASDAQ:FLEX)

Atria Investments Inc reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 3.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 83,894 shares of the technology company’s stock after selling 3,227 shares during the period. Atria Investments Inc’s holdings in Flex were worth $2,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FLEX. Harbor Capital Advisors Inc. purchased a new position in shares of Flex in the 3rd quarter valued at approximately $29,000. Kathleen S. Wright Associates Inc. bought a new position in Flex in the third quarter worth $39,000. Quarry LP purchased a new position in Flex during the second quarter valued at $43,000. American Capital Advisory LLC bought a new stake in shares of Flex during the 2nd quarter valued at $46,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Flex in the 3rd quarter worth about $74,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the transaction, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,185 shares of company stock worth $1,442,555. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flex has an average rating of “Buy” and an average target price of $40.83.

Flex Price Performance

FLEX opened at $37.86 on Thursday. The company’s 50-day simple moving average is $33.82 and its two-hundred day simple moving average is $31.77. 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 has a market capitalization of $14.68 billion, a P/E ratio of 16.75, a P/E/G ratio of 2.41 and a beta of 1.08. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $40.30.

Flex Profile

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.