Flex Ltd. (NASDAQ:FLEX) Shares Bought by Veracity Capital LLC

Veracity Capital LLC lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 16.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,226 shares of the technology company’s stock after acquiring an additional 2,102 shares during the quarter. Veracity Capital LLC’s holdings in Flex were worth $509,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Trust N.A. raised its position in shares of Flex by 1.8% in the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after acquiring an additional 471 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Flex by 8.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock worth $247,000 after purchasing an additional 683 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of Flex by 10.2% in the 2nd quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock valued at $235,000 after purchasing an additional 739 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after purchasing an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the transaction, the insider now owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares in the company, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Flex Price Performance

Flex stock opened at $34.90 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. Flex Ltd. has a one year low of $21.84 and a one year high of $35.84. The company has a 50-day simple moving average of $32.10 and a 200-day simple moving average of $30.77. The firm has a market capitalization of $13.92 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.00 and a beta of 1.09.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. As a group, equities analysts expect that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays lifted their price target on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.