Hanson & Doremus Investment Management Lowers Holdings in Flex Ltd (NASDAQ:FLEX)

Hanson & Doremus Investment Management decreased its holdings in Flex Ltd (NASDAQ:FLEX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,613 shares of the technology company’s stock after selling 1,653 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Flex were worth $1,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Flex by 15.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 677,584 shares of the technology company’s stock valued at $6,485,000 after buying an additional 89,432 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Flex by 7.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,004,506 shares of the technology company’s stock valued at $9,613,000 after purchasing an additional 70,376 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Flex by 7.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 113,175 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 7,700 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Flex by 11,596.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,118 shares of the technology company’s stock valued at $193,000 after purchasing an additional 19,946 shares during the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Flex during the 2nd quarter valued at $205,000. Institutional investors own 93.66% of the company’s stock.

Shares of FLEX traded down $0.06 during mid-day trading on Thursday, hitting $13.35. 66,078 shares of the stock were exchanged, compared to its average volume of 2,747,330. The company has a market cap of $6.80 billion, a PE ratio of 74.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.84. Flex Ltd has a 52-week low of $7.79 and a 52-week high of $13.43. The firm has a 50-day moving average of $12.31 and a two-hundred day moving average of $10.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.76 and a current ratio of 1.26.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.39. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Flex had a negative return on equity of 6.13% and a negative net margin of 0.71%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. On average, sell-side analysts predict that Flex Ltd will post 0.35 EPS for the current year.

FLEX has been the subject of several research analyst reports. Goldman Sachs Group raised their target price on Flex from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. BidaskClub raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered shares of Flex from an “overweight” rating to a “neutral” rating in a report on Thursday, January 2nd. Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating and set a $8.75 target price on the stock in a research report on Wednesday, September 25th. Finally, ValuEngine downgraded shares of Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Flex currently has a consensus rating of “Hold” and an average price target of $11.58.

In related news, EVP David Scott Offer sold 48,262 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.39, for a total transaction of $549,704.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.66, for a total transaction of $240,540.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,124 shares of company stock valued at $1,498,481. 0.42% of the stock is currently owned by company insiders.

Flex Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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