California Public Employees Retirement System Has $29.95 Million Position in Flex Ltd. (NASDAQ:FLEX)

California Public Employees Retirement System lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 780,198 shares of the technology company’s stock after selling 90,681 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Flex worth $29,952,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Flex during the 4th quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after acquiring an additional 509 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Flex in the 4th quarter valued at $38,000. EverSource Wealth Advisors LLC increased its position in shares of Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after purchasing an additional 704 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in Flex during the 4th quarter valued at about $64,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 transaction, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Up 2.1 %

Shares of FLEX opened at $34.06 on Thursday. The business’s fifty day moving average price is $38.47 and its two-hundred day moving average price is $37.65. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 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%. On average, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on FLEX shares. Stifel Nicolaus assumed coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Barclays raised their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flex currently has an average rating of “Buy” and a consensus price target 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.