Flex Ltd. (NASDAQ:FLEX) Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,501,307 shares of the technology company's stock after buying an additional 155,703 shares during the quarter. New York State Common Retirement Fund owned approximately 0.39% of Flex worth $57,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Creative Planning grew its position in shares of Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company's stock worth $4,726,000 after buying an additional 839 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Flex during the fourth quarter worth approximately $1,697,000. One Wealth Advisors LLC acquired a new stake in shares of Flex during the fourth quarter worth approximately $368,000. JPMorgan Chase & Co. grew its position in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after buying an additional 296,505 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company's stock worth $16,259,000 after buying an additional 257,975 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Performance

FLEX stock traded down $1.76 during mid-day trading on Friday, reaching $39.93. The company had a trading volume of 2,053,052 shares, compared to its average volume of 3,404,105. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $15.30 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.48 and a beta of 1.10. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The stock's 50-day simple moving average is $40.97 and its two-hundred day simple moving average is $36.58.

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

Insider Activity at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business'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 in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on FLEX. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective for the company. Barclays lifted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Craig Hallum lifted their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target 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.