Arizona State Retirement System Has $4.42 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Arizona State Retirement System lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 115,236 shares of the technology company’s stock after purchasing an additional 403 shares during the quarter. Arizona State Retirement System’s holdings in Flex were worth $4,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter valued at approximately $29,000. Huntington National Bank grew its position in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. R Squared Ltd acquired a new position in shares of Flex in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Flex during the 4th quarter worth approximately $38,000. Finally, First Horizon Advisors Inc. boosted its position in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target for the company. Barclays upped their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $44.33.

Flex Trading Up 0.7 %

NASDAQ FLEX opened at $34.70 on Friday. The company has a market cap of $13.29 billion, a PE ratio of 13.99, a PEG ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The stock has a 50 day moving average of $40.69 and a 200-day moving average of $37.18.

Flex (NASDAQ:FLEX) last released its quarterly earnings data 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 research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal 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.