Alight Capital Management LP Sells 15,000 Shares of Flex Ltd. (NASDAQ:FLEX)

Alight Capital Management LP lessened its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,000 shares of the technology company's stock after selling 15,000 shares during the quarter. Flex comprises approximately 1.3% of Alight Capital Management LP's portfolio, making the stock its 26th largest position. Alight Capital Management LP's holdings in Flex were worth $3,839,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. R Squared Ltd purchased a new position in Flex in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex during the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Flex during the 4th quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after acquiring an additional 509 shares during the last quarter. Finally, Huntington National Bank lifted its position 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 valued at $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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. KeyCorp cut their target price on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Barclays boosted their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $43.67.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % 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 87,093 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the sale, the executive vice president now directly owns 71,001 shares in the company, valued at $2,586,566.43. This trade represents a 55.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,900 shares of company stock valued at $8,179,677 in the last quarter. Insiders own 0.82% of the company's stock.

Flex Stock Down 0.4 %

Shares of FLEX traded down $0.15 during trading hours on Monday, hitting $36.59. 3,654,923 shares of the company were exchanged, compared to its average volume of 3,904,269. The firm's 50 day moving average is $33.52 and its 200-day moving average is $37.40. 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 52 week low of $25.11 and a 52 week high of $45.10. The company has a market cap of $14.02 billion, a PE ratio of 14.75, a PEG ratio of 2.43 and a beta of 0.96.

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.