Carnegie Capital Asset Management LLC Has $1.46 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Carnegie Capital Asset Management LLC decreased its stake in Flex Ltd. (NASDAQ:FLEX) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,817 shares of the technology company’s stock after selling 800 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Flex were worth $1,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Stratos Wealth Advisors LLC increased its stake in shares of Flex by 3.1% in the third quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company’s stock valued at $403,000 after buying an additional 452 shares during the period. Oppenheimer & Co. Inc. grew its stake in Flex by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock worth $368,000 after purchasing an additional 497 shares during the period. Captrust Financial Advisors grew its stake in Flex by 5.1% during the second quarter. Captrust Financial Advisors now owns 10,165 shares of the technology company’s stock worth $281,000 after purchasing an additional 497 shares during the period. Atlas Capital Advisors LLC grew its stake in Flex by 1.7% during the fourth quarter. Atlas Capital Advisors LLC now owns 30,412 shares of the technology company’s stock worth $653,000 after purchasing an additional 519 shares during the period. Finally, Wahed Invest LLC grew its stake in Flex by 8.1% during the third quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock worth $191,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 1.1 %

Shares of NASDAQ:FLEX opened at $28.08 on Tuesday. The business’s 50 day simple moving average is $28.20 and its two-hundred day simple moving average is $26.69. The firm has a market cap of $11.83 billion, a P/E ratio of 16.71, a PEG ratio of 1.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. As a group, research analysts forecast that Flex Ltd. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com initiated coverage on Flex in a research note on Wednesday, March 6th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group raised their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Insiders Place Their Bets

In other news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Rebecca Sidelinger sold 13,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value of $382,763.25. Following the transaction, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,943 shares of company stock worth $4,055,311. Corporate insiders own 0.56% of the company’s stock.

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.