North Dakota State Investment Board Invests $794,000 in Flex Ltd. $FLEX

North Dakota State Investment Board purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, HoldingsChannel reports. The fund purchased 13,148 shares of the technology company’s stock, valued at approximately $794,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of Flex during the fourth quarter worth about $28,000. CENTRAL TRUST Co grew its holdings in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flex during the third quarter worth about $52,000. Root Financial Partners LLC purchased a new stake in shares of Flex during the third quarter worth about $57,000. Finally, CI Investments Inc. grew its holdings in shares of Flex by 60.4% during the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock worth $59,000 after buying an additional 385 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FLEX shares. KeyCorp boosted their target price on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus boosted their target price on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. boosted their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. Finally, Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.80.

Flex Price Performance

FLEX opened at $131.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 52-week low of $40.15 and a 52-week high of $147.34. The company has a 50 day moving average of $87.86 and a two-hundred day moving average of $71.72. The company has a market cap of $48.36 billion, a P/E ratio of 56.45, a P/E/G ratio of 0.66 and a beta of 1.46.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The business had revenue of $7.48 billion for the quarter. On average, analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

Insider Buying and Selling at Flex

In related news, CEO Revathi Advaithi sold 114,090 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $16,242,993.30. Following the sale, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at $98,096,062.14. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,216 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the sale, the insider directly owned 232,706 shares in the company, valued at $33,132,680.28. This represents a 8.71% 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. In the last quarter, insiders sold 226,512 shares of company stock valued at $30,720,858. 0.57% of the stock is owned by company insiders.

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.