New Mexico Educational Retirement Board Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

New Mexico Educational Retirement Board bought a new position in Flex Ltd. (NASDAQ:FLEXFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 81,700 shares of the technology company’s stock, valued at approximately $3,136,000.

A number of other hedge funds have also added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. bought a new position in Flex in the 3rd quarter worth about $29,000. Huntington National Bank grew its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares in the last quarter. R Squared Ltd bought a new position in Flex in the 4th quarter worth about $35,000. First Horizon Advisors Inc. grew its stake in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Flex during the fourth quarter valued at approximately $64,000. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 0.3 %

NASDAQ:FLEX opened at $42.51 on Friday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The firm has a 50 day moving average of $40.64 and a 200 day moving average of $36.29. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $16.29 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEXGet Free Report) last posted its quarterly 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 net margin of 3.95% and a return on equity of 17.93%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This 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 Ratings Changes

A number of research firms have recently issued reports on FLEX. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus began 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 increased their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $44.33.

View Our Latest Research Report on Flex

Flex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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