Veracity Capital LLC Raises Position in Flex Ltd. (NASDAQ:FLEX)

Veracity Capital LLC increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 16.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,226 shares of the technology company’s stock after purchasing an additional 2,102 shares during the period. Veracity Capital LLC’s holdings in Flex were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FLEX. Vanguard Group Inc. boosted its stake in shares of Flex by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 5,829,503 shares of the technology company’s stock valued at $177,567,000 after buying an additional 248,233 shares in the last quarter. Global Assets Advisory LLC increased its holdings in shares of Flex by 400.9% in the 1st quarter. Global Assets Advisory LLC now owns 53,097 shares of the technology company’s stock valued at $1,519,000 after purchasing an additional 42,496 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Flex by 4.7% in the 1st quarter. Atlas Capital Advisors LLC now owns 34,821 shares of the technology company’s stock valued at $996,000 after purchasing an additional 1,560 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Flex by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 75,882 shares of the technology company’s stock worth $2,171,000 after buying an additional 6,528 shares in the last quarter. Finally, Deltec Asset Management LLC grew its position in Flex by 6.5% during the first quarter. Deltec Asset Management LLC now owns 311,500 shares of the technology company’s stock worth $8,912,000 after buying an additional 19,000 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling

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

Flex Price Performance

Shares of NASDAQ FLEX opened at $34.90 on Friday. The firm’s 50 day moving average price is $32.10 and its 200 day moving average price is $30.77. 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 cap of $13.92 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $35.84.

Flex (NASDAQ:FLEX) last announced 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, sell-side analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Barclays upped 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.80.

About Flex

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.