Flex Ltd. (NASDAQ:FLEX) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in Flex Ltd. (NASDAQ:FLEX) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,270 shares of the technology company’s stock after selling 4,139 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Flex were worth $1,335,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners grew its position in shares of Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Flex during the first quarter worth $51,543,000. Troluce Capital Advisors LLC raised its holdings in shares of Flex by 104.3% in the fourth quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after acquiring an additional 574,308 shares during the last quarter. TCW Group Inc. lifted its position in shares of Flex by 48.1% in the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after acquiring an additional 556,286 shares in the last quarter. Finally, Oribel Capital Management LP boosted its stake in shares of Flex by 212.9% during the fourth quarter. Oribel Capital Management LP now owns 547,600 shares of the technology company’s stock valued at $16,680,000 after acquiring an additional 372,600 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Down 1.8 %

Shares of NASDAQ:FLEX opened at $32.15 on Wednesday. The company’s fifty day moving average is $30.75 and its two-hundred day moving average is $30.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Equities analysts anticipate that Flex Ltd. will post 2.09 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on FLEX. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and raised their price target for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price 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. JPMorgan Chase & Co. boosted their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Barclays upped their target price on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average target price of $38.40.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Insiders have sold a total of 28,028 shares of company stock valued at $904,530 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.