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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 85,643 shares of the technology company's stock, valued at approximately $3,288,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after buying an additional 3,844,935 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after purchasing an additional 2,170,262 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Flex by 210.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock worth $75,148,000 after purchasing an additional 1,327,298 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Flex during the 4th quarter valued at $33,363,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Flex in the fourth quarter valued at $32,293,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Transactions at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $2,844,379.23. Following the sale, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

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Flex Trading Down 1.9 %

Shares of NASDAQ FLEX traded down $0.72 during midday trading on Tuesday, hitting $36.70. The stock had a trading volume of 1,191,922 shares, compared to its average volume of 3,772,061. The company has a fifty day moving average price of $39.64 and a 200 day moving average price of $37.46. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (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, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Five 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.com, the stock has an average rating of "Buy" and a consensus price target of $44.33.

About Flex

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.