Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,466 shares of the technology company’s stock after acquiring an additional 19,454 shares during the quarter. Truist Financial Corp’s holdings in Flex were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Flex by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after purchasing an additional 497 shares during the last quarter. Wahed Invest LLC lifted its stake in Flex by 8.1% during the third quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after buying an additional 530 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Flex by 1.5% in the third quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock worth $1,100,000 after buying an additional 589 shares during the period. Veracity Capital LLC grew its holdings in shares of Flex by 7.8% during the 4th quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after acquiring an additional 599 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Flex by 8.4% during the fourth quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock valued at $266,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity

In related news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP David Scott Offer sold 75,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

FLEX has been the topic of several research reports. Barclays upped their target price on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. StockNews.com began coverage on shares of Flex in a research note on Wednesday, March 6th. They set a “hold” rating on the stock. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Stock Performance

NASDAQ:FLEX opened at $29.19 on Tuesday. The firm has a market capitalization of $12.29 billion, a PE ratio of 12.69, a PEG ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 1 year low of $20.41 and a 1 year high of $30.93. The firm’s fifty day simple moving average is $28.48 and its 200 day simple moving average is $26.88.

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.