Louisiana State Employees Retirement System purchased a new position in Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 107,600 shares of the technology company's stock, valued at approximately $4,131,000.
Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter valued at about $29,000. Huntington National Bank grew its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. R Squared Ltd purchased a new stake in Flex during the 4th quarter valued at about $35,000. First Horizon Advisors Inc. grew its position in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in Flex during the 4th quarter valued at about $64,000. 94.30% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on FLEX shares. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price target on the stock. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $44.33.
Check Out Our Latest Report on FLEX
Flex Stock Performance
Shares of FLEX traded up $0.12 on Friday, reaching $42.51. The company's stock had a trading volume of 1,506,046 shares, compared to its average volume of 3,842,607. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The stock has a market capitalization of $16.29 billion, a P/E ratio of 17.14, a PEG ratio of 2.58 and a beta of 1.10. The stock's 50 day simple moving average is $40.64 and its two-hundred day simple moving average is $36.32. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.
Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Flex news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred 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 sale, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.
About Flex
(
Free Report)
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.
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