Flex Ltd. (NASDAQ:FLEX) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in Flex Ltd. (NASDAQ:FLEX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 46,469 shares of the technology company’s stock after selling 459 shares during the quarter. First Hawaiian Bank’s holdings in Flex were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex in the 3rd quarter valued at about $29,000. Huntington National Bank boosted its holdings in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of Flex during the third quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Flex in the 2nd quarter valued at $43,000. Finally, First Horizon Advisors Inc. raised its position in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Down 0.3 %

Flex stock opened at $41.06 on Thursday. The stock’s 50 day moving average price is $38.54 and its 200 day moving average price is $33.99. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $44.45. The company has a market cap of $15.92 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

Analyst Ratings Changes

FLEX has been the topic of several research reports. Barclays raised their price objective 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. Stifel Nicolaus boosted their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $42.67.

Insiders Place Their Bets

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

Flex Company 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.