New York State Common Retirement Fund Has $57.64 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

New York State Common Retirement Fund increased its stake in Flex Ltd. (NASDAQ:FLEX) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,501,307 shares of the technology company’s stock after acquiring an additional 155,703 shares during the quarter. New York State Common Retirement Fund owned about 0.39% of Flex worth $57,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLEX. First Horizon Advisors Inc. lifted its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares during the period. Stephens Inc. AR increased its holdings in shares of Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after acquiring an additional 361 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after acquiring an additional 413 shares in the last quarter. Huntington National Bank increased its holdings in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Flex by 6.4% during the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock valued at $400,000 after acquiring an additional 630 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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 $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Trading Down 0.4 %

Shares of Flex stock opened at $42.45 on Thursday. The stock has a fifty day simple moving average of $40.90 and a 200 day simple moving average of $36.54. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10. The company has a market capitalization of $16.26 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.10.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on FLEX shares. Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays upped their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Six investment 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.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.33.

Flex Company 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.