Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases New Position in Flex Ltd. (NASDAQ:FLEX)

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in FLEX. Raymond James Financial Inc. bought a new stake in shares of Flex during the 4th quarter worth approximately $32,293,000. Mutual of America Capital Management LLC bought a new stake in shares of Flex during the 4th quarter worth approximately $7,864,000. State of Alaska Department of Revenue bought a new stake in shares of Flex during the 4th quarter worth approximately $1,697,000. One Wealth Advisors LLC bought a new stake in shares of Flex during the 4th quarter worth approximately $368,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after acquiring an additional 296,505 shares during the period. 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 firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction 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 approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was 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 Price Performance

FLEX stock opened at $36.40 on Monday. The company has a fifty day moving average price of $39.68 and a 200-day moving average price of $37.41. The company has a market capitalization of $13.94 billion, a P/E ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on FLEX shares. Barclays upped their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flex has a consensus rating of “Buy” and a consensus target price 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.