Caption Management LLC Lowers Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Caption Management LLC decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 67.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 19,800 shares of the technology company’s stock after selling 41,250 shares during the period. Caption Management LLC’s holdings in Flex were worth $760,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Flex during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Flex by 46.7% in the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,900 shares of company stock worth $8,179,677. 0.82% of the stock is owned by insiders.

Flex Stock Up 0.5 %

Flex stock opened at $36.77 on Wednesday. The stock has a 50-day simple moving average of $33.43 and a 200-day simple moving average of $37.40. The company has a market capitalization of $14.09 billion, a P/E ratio of 14.83, a PEG ratio of 2.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent research reports. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. KeyCorp cut their price target on Flex from $46.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex currently has a consensus rating of “Buy” and a consensus price target of $43.67.

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.