Flex Ltd. $FLEX Stock Holdings Reduced by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in Flex Ltd. (NASDAQ:FLEX) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,537 shares of the technology company’s stock after selling 3,789 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Flex were worth $5,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Flex by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock worth $138,749,000 after buying an additional 360,553 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flex in the fourth quarter worth about $2,497,000. Sequoia Financial Advisors LLC lifted its position in shares of Flex by 12.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after buying an additional 19,270 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of Flex in the fourth quarter worth about $2,056,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $159.43 on Wednesday. The business has a 50 day moving average price of $100.23 and a 200 day moving average price of $76.11. Flex Ltd. has a twelve month low of $42.31 and a twelve month high of $159.86. The company has a market cap of $58.41 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 0.78 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion during the quarter. Research analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Raymond James Financial set a $80.00 price target on Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Robert W. Baird set a $165.00 price target on Flex in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $112.80.

Insider Activity

In related news, CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the completion of the sale, the chief executive officer owned 605,522 shares in the company, valued at $80,455,708.14. This represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 17,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00. Following the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at approximately $32,425,149.99. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 329,512 shares of company stock worth $44,459,298 over the last 90 days. Company insiders own 0.57% of the company’s stock.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.