Veracity Capital LLC Buys 1,644 Shares of Flex Ltd. (NASDAQ:FLEX)

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

A number of other large investors have also made changes to their positions in the stock. Creative Planning increased its stake in Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after acquiring an additional 839 shares during the period. Hsbc Holdings PLC increased its position in shares of Flex by 254.9% during the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after purchasing an additional 36,465 shares during the period. Algert Global LLC raised its stake in shares of Flex by 14.6% in the second quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock valued at $7,386,000 after purchasing an additional 31,876 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Flex by 153.6% in the third quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company’s stock worth $3,724,000 after purchasing an additional 67,468 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after buying an additional 296,505 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $43.85 on Friday. The stock has a market capitalization of $17.00 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 1 year low of $22.57 and a 1 year high of $45.10. The firm has a 50 day moving average of $39.52 and a 200-day moving average of $34.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.67.

Insider Activity at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents 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.

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.