107,600 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 107,600 shares of the technology company’s stock, valued at approximately $4,131,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLEX. Creative Planning raised its position in shares of Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after acquiring an additional 839 shares during the last quarter. One Wealth Advisors LLC bought a new position in Flex during the 4th quarter worth approximately $368,000. JPMorgan Chase & Co. lifted its position in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Flex by 113.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock valued at $16,259,000 after purchasing an additional 257,975 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Flex by 872.7% during the fourth quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock worth $3,998,000 after buying an additional 93,426 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Up 0.5 %

Shares of NASDAQ:FLEX opened at $43.01 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The business’s 50 day simple moving average is $40.50 and its two-hundred day simple moving average is $36.14. The firm has a market cap of $16.48 billion, a P/E ratio of 17.34, a PEG ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (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, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction on 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 sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FLEX shares. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday. They issued a “buy” rating and a $52.00 price target on the stock. Finally, StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $44.33.

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.