Virtu Financial LLC Invests $336,000 in Flex Ltd. (NASDAQ:FLEX)

Virtu Financial LLC bought a new stake in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,747 shares of the technology company’s stock, valued at approximately $336,000.

Other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Flex in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new position in Flex in the fourth quarter valued at approximately $38,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after buying an additional 704 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Flex during the 4th quarter worth approximately $64,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Flex in the 3rd quarter valued at $75,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FLEX shares. Stifel Nicolaus initiated coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $44.33.

Flex Trading Down 2.6 %

NASDAQ:FLEX opened at $34.46 on Friday. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The company has a market cap of $13.20 billion, a PE ratio of 13.90, a PEG ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The firm has a 50-day moving average of $39.28 and a 200-day moving average of $37.48.

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%. As a group, equities research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of Flex 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 sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Company 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.