353,784 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by New York State Teachers Retirement System

New York State Teachers Retirement System acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 353,784 shares of the technology company's stock, valued at approximately $13,582,000. New York State Teachers Retirement System owned 0.09% of Flex 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. Janus Henderson Group PLC lifted its holdings in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock worth $898,389,000 after acquiring an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock worth $237,216,000 after acquiring an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. raised its position in Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock valued at $202,152,000 after purchasing an additional 296,505 shares during the last quarter. Geode Capital Management LLC lifted its position in Flex by 619.3% during 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. Finally, State Street Corp grew its stake in shares of Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock valued at $122,503,000 after purchasing an additional 603,208 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the business'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 completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several analyst reports. Barclays increased their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Stifel Nicolaus started coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price for the company. Finally, Craig Hallum boosted their price target on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $44.33.

Flex Trading Down 3.2 %

Shares of Flex stock traded down $1.34 during midday trading on Friday, reaching $40.35. The company had a trading volume of 3,552,565 shares, compared to its average volume of 3,452,899. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The stock has a fifty day moving average price of $41.01 and a 200 day moving average price of $36.66. The firm has a market cap of $15.46 billion, a PE ratio of 16.27, a P/E/G ratio of 2.48 and a beta of 1.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

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.