Sequoia Financial Advisors LLC Purchases 12,858 Shares of Flex Ltd. $FLEX

Sequoia Financial Advisors LLC lifted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 9.1% during the 3rd quarter, Holdings Channel reports. The firm owned 154,007 shares of the technology company’s stock after purchasing an additional 12,858 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Flex were worth $8,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. MTM Investment Management LLC bought a new position in Flex during the second quarter worth about $26,000. Concord Wealth Partners bought a new stake in Flex in the second quarter valued at approximately $28,000. CNB Bank acquired a new stake in shares of Flex in the second quarter valued at approximately $30,000. Harbour Investments Inc. boosted its stake in shares of Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after acquiring an additional 301 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Flex by 404.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after acquiring an additional 566 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays cut their price target on Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday. KeyCorp increased their price objective on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Raymond James Financial raised shares of Flex from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and an average target price of $66.11.

Insider Activity at Flex

In other news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the sale, the chief accounting officer directly owned 27,619 shares in the company, valued at approximately $1,987,739.43. The trade was a 26.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This represents a 12.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 128,906 shares of company stock valued at $7,904,439. 0.57% of the stock is currently owned by company insiders.

Flex Trading Down 2.6%

FLEX stock opened at $64.83 on Monday. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $72.22. The company has a market capitalization of $23.97 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company’s 50-day simple moving average is $62.11 and its 200 day simple moving average is $57.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.