New York State Common Retirement Fund Has $38.23 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

New York State Common Retirement Fund decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,255,028 shares of the technology company’s stock after selling 78,007 shares during the period. New York State Common Retirement Fund’s holdings in Flex were worth $38,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Flex in the third quarter valued at approximately $30,000. CWM LLC boosted its position in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares in the last quarter. Fifth Third Bancorp boosted its position in Flex by 276.6% in the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after buying an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Flex in the fourth quarter valued at approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Flex in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 43,381 shares of Flex stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the transaction, the insider now directly owns 154,810 shares of the company’s stock, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock valued at $4,055,311 over the last quarter. Insiders own 0.56% of the company’s stock.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $28.50 on Thursday. The firm has a market cap of $12.00 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The firm’s fifty day moving average is $28.44 and its 200-day moving average is $26.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a 52 week low of $19.44 and a 52 week high of $30.93.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Sell-side analysts predict that Flex Ltd. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com began coverage on shares of Flex in a research report on Wednesday, March 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

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.