New York State Common Retirement Fund Has $44.98 Million Stake in Flex Ltd. (NASDAQ:FLEX)

New York State Common Retirement Fund grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,345,604 shares of the technology company's stock after purchasing an additional 50,155 shares during the period. New York State Common Retirement Fund owned about 0.34% of Flex worth $44,984,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. acquired a new stake in Flex in the third quarter worth $39,000. Quarry LP acquired a new stake in Flex in the second quarter worth $43,000. American Capital Advisory LLC bought a new stake in shares of Flex during the second quarter worth $46,000. J.Safra Asset Management Corp increased its position in shares of Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company's stock worth $87,000 after acquiring an additional 2,538 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Flex by 79.4% during the third quarter. Whittier Trust Co. now owns 3,284 shares of the technology company's stock worth $110,000 after acquiring an additional 1,453 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 2.3 %

Flex stock traded up $0.81 during mid-day trading on Friday, reaching $35.48. The company's stock had a trading volume of 3,604,201 shares, compared to its average volume of 2,531,393. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $36.98. The business's 50 day simple moving average is $32.81 and its 200 day simple moving average is $31.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLEX. JPMorgan Chase & Co. increased their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 23rd. Barclays increased their price objective on shares of Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $40.83.

Insider Activity

In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company's stock, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company's stock, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares of the company's stock, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $933,511 in the last quarter. Company insiders own 0.82% of the company's stock.

Flex 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.