PGGM Investments Has $8.45 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

PGGM Investments cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 277,327 shares of the technology company’s stock after selling 34,784 shares during the quarter. PGGM Investments’ holdings in Flex were worth $8,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of Flex by 0.6% in the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after purchasing an additional 247,024 shares in the last quarter. LSV Asset Management raised its stake in shares of Flex by 6.8% in the third quarter. LSV Asset Management now owns 6,996,205 shares of the technology company’s stock valued at $188,758,000 after purchasing an additional 447,200 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Flex by 5.7% in the third quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after purchasing an additional 302,086 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Flex by 3.2% in the third quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock valued at $119,411,000 after purchasing an additional 138,979 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Flex by 63.9% in the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after purchasing an additional 944,928 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Flex Trading Up 0.9 %

Flex stock traded up $0.27 during mid-day trading on Friday, hitting $28.97. The stock had a trading volume of 2,934,628 shares, compared to its average volume of 2,867,557. The stock has a 50-day simple moving average of $28.46 and a two-hundred day simple moving average of $26.79. The stock has a market capitalization of $12.20 billion, a PE ratio of 17.24, a P/E/G ratio of 1.81 and a beta of 1.19. Flex Ltd. has a 12 month low of $19.44 and a 12 month high of $30.93. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.

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

Insider Activity at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total value of $231,257.87. Following the transaction, the insider now owns 159,718 shares of the company’s stock, valued at $4,601,475.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total value of $231,257.87. Following the completion of the transaction, the insider now directly owns 159,718 shares in the company, valued at approximately $4,601,475.58. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock worth $4,055,311 over the last 90 days. Insiders own 0.56% of the company’s stock.

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.