11,696 Shares of Flex Ltd. $FLEX Acquired by Veracity Capital LLC

Veracity Capital LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 11,696 shares of the technology company’s stock, valued at approximately $1,286,000.

Other large investors have also added to or reduced their stakes in the company. Polar Capital Holdings Plc boosted its position in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after buying an additional 2,165,780 shares during the period. Sei Investments Co. increased its position in Flex by 52.2% in the 1st quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock valued at $146,016,000 after acquiring an additional 764,558 shares during the period. KBC Group NV raised its stake in shares of Flex by 541.5% during the first quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after acquiring an additional 1,659,384 shares during the last quarter. Amundi lifted its holdings in shares of Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock worth $97,825,000 after purchasing an additional 200,553 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Flex by 9.3% during the first quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after purchasing an additional 109,992 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Trading Down 5.0%

Shares of Flex stock traded down $6.00 on Thursday, hitting $113.34. 1,238,902 shares of the company’s stock traded hands, compared to its average volume of 4,705,167. The company has a fifty day moving average of $114.42 and a two-hundred day moving average of $117.02. Flex Ltd. has a one year low of $53.07 and a one year high of $166.86. The company has a market capitalization of $41.87 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FLEX shares. Robert W. Baird set a $142.00 price objective on Flex in a report on Thursday, July 30th. The Goldman Sachs Group decreased their price target on Flex from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Barclays cut their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Raymond James Financial set a $170.00 target price on Flex and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Insider Transactions at Flex

In other Flex news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider directly owned 243,175 shares in the company, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is currently owned by corporate insiders.

About Flex

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.