Flex Ltd. $FLEX Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,568 shares of the technology company’s stock after selling 5,353 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Flex were worth $8,678,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. USA Financial Formulas acquired a new position in Flex during the fourth quarter worth about $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its stake in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Flex during the 4th quarter worth approximately $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Flex by 6,318.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after purchasing an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of FLEX opened at $116.07 on Tuesday. The firm has a 50-day simple moving average of $141.10 and a two-hundred day simple moving average of $98.60. The stock has a market cap of $42.53 billion, a PE ratio of 49.82, a P/E/G ratio of 0.62 and a beta of 1.64. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. As a group, analysts forecast that Flex Ltd. will post 4.18 EPS for the current year.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 26,657 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the sale, the chief operating officer owned 257,527 shares in the company, valued at $37,207,500.96. This represents a 9.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 769,195 shares of company stock valued at $110,116,823 over the last three months. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays increased their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus raised their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.