11,696 Shares in Flex Ltd. $FLEX Purchased by Veracity Capital LLC

Key Points

• Veracity Capital LLC purchased 11,696 Flex shares worth approximately $1.286 million during the third quarter. Institutional investors collectively own 94.3% of the company, with several major funds increasing their positions.
• Analyst sentiment remains favorable, with one Strong Buy, seven Buy, and three Hold ratings. Flex has an average “Moderate Buy” rating and a consensus price target of $119.67.
• Flex reported quarterly revenue of $7.93 billion and earnings of $1.00 per share, while analysts expect full-year earnings of $4.27 per share. The stock recently traded at $113.34, down $6.00.

Veracity Capital LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,696 shares of the technology company's stock, valued at approximately $1,286,000.

A number of other large investors have also added to or reduced their stakes in the business. Polar Capital Holdings Plc boosted its position in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company's stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the period. Sei Investments Co. lifted its stake in shares of Flex by 52.2% during the 1st quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company's stock worth $146,016,000 after buying an additional 764,558 shares during the last quarter. KBC Group NV boosted its holdings in shares of Flex by 541.5% during the 1st quarter. KBC Group NV now owns 1,965,811 shares of the technology company's stock worth $128,682,000 after buying an additional 1,659,384 shares during the period. Amundi boosted its holdings in shares of Flex by 15.5% during the 1st quarter. Amundi now owns 1,494,418 shares of the technology company's stock worth $97,825,000 after buying an additional 200,553 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Flex by 9.3% in the 1st quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company's stock valued at $84,714,000 after buying an additional 109,992 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FLEX shares. Freedom Capital upgraded Flex from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Robert W. Baird set a $142.00 price target on shares of Flex in a research report on Thursday, July 30th. Weiss Ratings cut shares of Flex from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 17th. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Finally, Raymond James Financial set a $170.00 target price on shares of Flex and gave the stock an "outperform" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Flex currently has an average rating of "Moderate Buy" and a consensus target price of $119.67.

Flex Price Performance

NASDAQ FLEX traded down $6.00 on Thursday, hitting $113.34. 1,238,902 shares of the company's stock were exchanged, compared to its average volume of 4,705,167. The stock has a 50-day moving average of $114.42 and a 200-day moving average of $117.02. The stock has a market cap of $41.87 billion, a price-to-earnings ratio of 43.70, a P/E/G ratio of 0.61 and a beta of 1.67. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. Analysts expect that Flex Ltd. will post 4.27 earnings per share for the current year.

Insider Activity

In related news, insider Michael P. Hartung sold 2,755 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total transaction of $332,363.20. Following the completion of the transaction, the insider directly owned 243,175 shares in the company, valued at $29,336,632. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.62% of the company's stock.

Flex Profile

Flex Ltd. NASDAQ: FLEX is a global manufacturing and supply-chain solutions provider that helps companies design, build and deliver products. The company works with original equipment manufacturers and other brands across the product life cycle, from product design and engineering through manufacturing, logistics and aftermarket services.

Its capabilities include electronics manufacturing, printed circuit board assembly, systems integration, mechanical manufacturing, testing, product development and supply-chain management.

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