Virtu Financial LLC Purchases New Position in Flex Ltd. (NASDAQ:FLEX)

Virtu Financial LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEXFree Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,123 shares of the technology company’s stock, valued at approximately $1,626,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boston Partners grew its position in Flex by 113.8% during the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after acquiring an additional 10,201,162 shares during the last quarter. Norges Bank acquired a new stake in shares of Flex in the fourth quarter valued at $165,000,000. Westfield Capital Management Co. LP bought a new position in shares of Flex in the first quarter valued at about $51,543,000. Troluce Capital Advisors LLC lifted its position in Flex by 104.3% during the 4th quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after buying an additional 574,308 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Flex by 48.1% during the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after acquiring an additional 556,286 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

FLEX opened at $30.85 on Wednesday. The company has a fifty day moving average price of $30.58 and a two-hundred day moving average price of $30.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The firm has a market capitalization of $12.30 billion, a PE ratio of 13.41, a P/E/G ratio of 1.74 and a beta of 1.09. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $34.12.

Flex (NASDAQ:FLEXGet Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. As a group, analysts anticipate that Flex Ltd. will post 2.09 earnings per share for the current year.

Analysts Set New Price Targets

FLEX has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and increased their price objective for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Stifel Nicolaus boosted their target price on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $38.40.

Read Our Latest Stock Report on Flex

Insider Activity at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares in the company, valued at approximately $5,377,327.06. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock worth $904,530 in the last ninety days. Company insiders own 0.82% of the company’s stock.

About Flex

(Free Report)

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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