Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $3.29 Million Position in Flex Ltd. (NASDAQ:FLEX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 85,643 shares of the technology company’s stock, valued at approximately $3,288,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Flex in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Flex in the 4th quarter valued at $38,000. EverSource Wealth Advisors LLC grew its holdings in shares of Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares during the period. First Horizon Advisors Inc. lifted its position in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in Flex in the 4th quarter valued at $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

In other news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Flex Trading Up 0.9 %

Shares of NASDAQ:FLEX opened at $36.40 on Monday. The company’s 50-day moving average price is $39.68 and its two-hundred day moving average price is $37.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The stock has a market capitalization of $13.94 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results 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 net margin of 3.95% and a return on equity of 17.93%. On average, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.