Allegheny Financial Group Sells 10,001 Shares of Flex Ltd. (NASDAQ:FLEX)

Allegheny Financial Group decreased its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,922 shares of the technology company's stock after selling 10,001 shares during the quarter. Allegheny Financial Group's holdings in Flex were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FLEX. R Squared Ltd bought a new position in Flex during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Flex in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares in the last quarter. Finally, Huntington National Bank grew its stake in 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 during the period. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Down 0.4 %

FLEX stock traded down $0.15 during mid-day trading on Monday, reaching $36.59. The company had a trading volume of 3,654,923 shares, compared to its average volume of 3,904,269. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The stock has a 50 day simple moving average of $33.52 and a two-hundred day simple moving average of $37.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FLEX shares. The Goldman Sachs Group cut their price objective on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. KeyCorp cut their price objective on shares of Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $43.67.

Insider Activity at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of Flex 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 transaction, the director now directly owns 202,850 shares of the company's stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 directly owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,900 shares of company stock valued at $8,179,677. 0.82% of the stock is owned by corporate insiders.

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.