Rockefeller Capital Management L.P. Trims Stock Position in Flex Ltd. (NASDAQ:FLEX)

Rockefeller Capital Management L.P. lessened its position in shares of Flex Ltd. (NASDAQ:FLEX) by 44.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,443 shares of the technology company’s stock after selling 10,060 shares during the period. Rockefeller Capital Management L.P.’s holdings in Flex were worth $416,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter valued at about $29,000. Huntington National Bank lifted its holdings in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the 3rd quarter worth approximately $39,000. Quarry LP purchased a new stake in shares of Flex in the 2nd quarter valued at approximately $43,000. Finally, American Capital Advisory LLC purchased a new position in shares of Flex in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

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

Flex Trading Down 0.6 %

NASDAQ:FLEX opened at $37.93 on Wednesday. The stock’s 50 day moving average price is $36.74 and its 200 day moving average price is $33.08. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47. The company has a market capitalization of $14.71 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Wall Street Analyst Weigh In

FLEX has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday. Barclays lifted their price target on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price target 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.67.

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.