Public Employees Retirement System of Ohio bought a new position in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 124,136 shares of the technology company’s stock, valued at approximately $20,119,000.
A number of other large investors have also recently bought and sold shares of the stock. JSF Financial LLC lifted its holdings in shares of Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 115 shares during the period. Glenview Trust Co increased its position in shares of Flex by 3.4% during the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after purchasing an additional 125 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Flex by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after purchasing an additional 163 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Flex by 7.9% in the first quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock valued at $159,000 after buying an additional 178 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on FLEX shares. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird set a $142.00 target price on Flex in a report on Thursday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Barclays reduced their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $114.20.
Insider Buying and Selling at Flex
In related news, CAO Daniel Wendler sold 1,311 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the transaction, the chief accounting officer directly owned 37,932 shares in the company, valued at $5,507,726.40. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the completion of the transaction, the chief operating officer directly owned 248,546 shares in the company, valued at approximately $36,086,393.74. The trade was a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 459,938 shares of company stock valued at $67,020,113 over the last 90 days. Company insiders own 0.62% of the company’s stock.
Flex Stock Down 4.2%
Shares of FLEX opened at $110.50 on Friday. The business’s fifty day moving average price is $127.37 and its two-hundred day moving average price is $107.28. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 0.56 and a beta of 1.67. Flex Ltd. has a 52 week low of $51.76 and a 52 week high of $166.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38.
Flex (NASDAQ:FLEX – Get Free Report) last announced its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%.The firm had revenue of $7.93 billion during the quarter. On average, analysts predict that Flex Ltd. will post 4.27 earnings per share for the current year.
About Flex
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.
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