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

Veracity Capital LLC lifted its position in Flex Ltd. (NASDAQ:FLEX) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,870 shares of the technology company’s stock after acquiring an additional 1,644 shares during the quarter. Veracity Capital LLC’s holdings in Flex were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FLEX. Geode Capital Management LLC boosted its stake in Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after acquiring an additional 3,844,935 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares during the period. Point72 Asset Management L.P. grew its stake in Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after buying an additional 792,700 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Flex in the 3rd quarter worth about $22,075,000. Finally, State Street Corp increased its stake in shares of Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Down 1.4 %

FLEX stock opened at $43.85 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a market cap of $17.00 billion, a PE ratio of 19.40, a PEG ratio of 2.80 and a beta of 1.10. Flex Ltd. has a 1 year low of $22.57 and a 1 year high of $45.10. The company has a fifty day simple moving average of $39.52 and a 200 day simple moving average of $34.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLEX shares. Craig Hallum boosted their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Stifel Nicolaus lifted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, KeyCorp began coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flex has an average rating of “Buy” and an average price target of $42.67.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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.