Maryland State Retirement & Pension System Acquires New Position in Flex Ltd. $FLEX

Maryland State Retirement & Pension System acquired a new position in Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 22,818 shares of the technology company’s stock, valued at approximately $2,510,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLEX. Burkett Financial Services LLC acquired a new stake in Flex during the third quarter valued at approximately $25,000. Reyes Financial Architecture Inc. bought a new stake in Flex during the third quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new position in Flex in the third quarter worth approximately $29,000. Security National Bank of SO Dak acquired a new position in Flex in the second quarter worth approximately $89,000. Finally, Signature Equity Partners LLC grew its position in Flex by 56.3% in the third quarter. Signature Equity Partners LLC now owns 605 shares of the technology company’s stock worth $67,000 after buying an additional 218 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLEX. Robert W. Baird dropped their price target on Flex from $142.00 to $135.00 in a report on Monday, October 19th. Weiss Ratings lowered Flex from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. The Goldman Sachs Group decreased their target price on Flex from $154.00 to $145.00 in a report on Friday, October 16th. Raymond James Financial set a $170.00 target price on Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised Flex from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $138.88.

Recent Flex Headlines

These are some of the FLEX headlines that stood out recently:

• Positive Sentiment: Recent coverage describes Wall Street as optimistic on Flex, citing its past-year performance and prospects. Another stock-pick article includes FLEX among companies offering exposure to AI infrastructure and potential upside. Is Wall Street Bullish or Bearish on Flex Ltd. Stock? Buy 3 Top-Ranked Undervalued AI Infrastructure Giants to Boost Gains
• Negative Sentiment: KeyCorp cut its Flex price target to $128 from $180, a substantial reduction that could pressure the shares. It maintained an “overweight” rating, however, and the revised target still implies considerable upside from the price cited in the coverage. Flex Given New $128 Price Target at KeyCorp

Flex Trading Down 4.0%

Shares of FLEX traded down $3.14 during midday trading on Friday, hitting $74.98. The stock had a trading volume of 3,344,459 shares, compared to its average volume of 7,159,746. Flex Ltd. has a fifty-two week low of $53.07 and a fifty-two week high of $166.86. The business has a 50-day simple moving average of $99.26 and a two-hundred day simple moving average of $103.47. The firm has a market cap of $27.70 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 0.36 and a beta of 1.80. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.12. Flex had a net margin of 3.35% and a return on equity of 24.93%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same period last year, the firm posted $0.79 earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts forecast that Flex Ltd. will post 4.52 EPS for the current year.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,755 shares of Flex stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total transaction of $332,363.20. Following the transaction, the insider directly owned 243,175 shares in the company, valued at approximately $29,336,632. The trade was a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.62% of the company’s stock.

Flex Profile

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support. The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.