State of Alaska Department of Revenue Buys Shares of 44,210 Flex Ltd. (NASDAQ:FLEX)

State of Alaska Department of Revenue acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,210 shares of the technology company's stock, valued at approximately $1,697,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex in the third quarter worth $29,000. R Squared Ltd acquired a new stake in shares of Flex in the fourth quarter worth $35,000. Huntington National Bank grew its stake in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after purchasing an additional 305 shares during the period. Finally, UMB Bank n.a. bought a new position in Flex in the fourth quarter worth $64,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FLEX shares. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Craig Hallum raised their target price on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday. They set a "buy" rating and a $52.00 price objective for the company. Finally, KeyCorp assumed coverage on Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective for the company. Six 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 stock presently has a consensus rating of "Buy" and an average price target of $44.33.

Insider Buying and Selling

In related news, Director Lay Koon Tan sold 50,000 shares of Flex 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 completion of the sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The stock was 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 owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Flex Price Performance

Shares of Flex stock traded up $0.12 during trading 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 stock has a 50-day moving average price of $40.64 and a two-hundred day moving average price of $36.29. The company has a current ratio of 1.41, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The stock has a market capitalization of $16.29 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.