Silicon Valley Capital Partners Makes New $74,000 Investment in Flex Ltd. (NASDAQ:FLEX)

Silicon Valley Capital Partners acquired a new stake in Flex Ltd. (NASDAQ:FLEX) during the third quarter, Holdings Channel.com reports. The firm acquired 2,216 shares of the technology company’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in Flex during the third quarter valued at about $29,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Flex during the 3rd quarter worth about $39,000. Quarry LP bought a new stake in Flex during the 2nd quarter valued at approximately $43,000. American Capital Advisory LLC bought a new position in Flex in the 2nd quarter worth approximately $46,000. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after buying an additional 2,538 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 2.3 %

Shares of FLEX opened at $35.48 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $32.81 and a two-hundred day moving average price of $31.23. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.05 and a beta of 1.08. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $36.98.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,028 shares of company stock valued at $933,511. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLEX. JPMorgan Chase & Co. boosted their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $40.83.

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.