8,747 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,747 shares of the technology company’s stock, valued at approximately $336,000.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Flex by 462.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock worth $88,247,000 after purchasing an additional 2,170,262 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Flex by 210.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company’s stock valued at $75,148,000 after purchasing an additional 1,327,298 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Flex during the 4th quarter valued at approximately $33,363,000. Finally, Raymond James Financial Inc. bought a new position in Flex in the 4th quarter worth approximately $32,293,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Price Performance

Flex stock opened at $34.46 on Friday. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.43 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $39.28 and a 200 day simple moving average of $37.48. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the topic of several recent research reports. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and a consensus target price of $44.33.

Flex Profile

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.