Truist Financial Corp Purchases 19,454 Shares of Flex Ltd. (NASDAQ:FLEX)

Truist Financial Corp raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 17.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 130,466 shares of the technology company’s stock after buying an additional 19,454 shares during the period. Truist Financial Corp’s holdings in Flex were worth $3,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Commonwealth Equity Services LLC increased its stake in Flex by 58.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 33,370 shares of the technology company’s stock valued at $900,000 after buying an additional 12,248 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Flex by 145.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 58,739 shares of the technology company’s stock valued at $1,585,000 after acquiring an additional 34,810 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Flex by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 463,264 shares of the technology company’s stock worth $12,499,000 after acquiring an additional 14,205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Flex by 11.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,613 shares of the technology company’s stock valued at $2,256,000 after purchasing an additional 8,688 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Flex by 1.5% in the third quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 589 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. Barclays lifted their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, StockNews.com assumed coverage on Flex in a research report on Wednesday, March 6th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Flex Stock Up 4.6 %

Shares of FLEX opened at $29.19 on Tuesday. The firm’s 50-day simple moving average is $28.48 and its 200 day simple moving average is $26.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The firm has a market cap of $12.29 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Flex Ltd. has a 52 week low of $20.41 and a 52 week high of $30.93.

Insider Activity

In related news, insider Michael P. Hartung sold 43,381 shares of Flex stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the completion of the sale, the insider now directly owns 154,810 shares of the company’s stock, valued at approximately $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 43,381 shares of Flex stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the completion of the sale, the insider now owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is owned by insiders.

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.