California State Teachers Retirement System Cuts Holdings in Flex Ltd. (NASDAQ:FLEX)

California State Teachers Retirement System decreased its position in Flex Ltd. (NASDAQ:FLEXFree Report) by 1.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 396,866 shares of the technology company’s stock after selling 5,125 shares during the period. California State Teachers Retirement System’s holdings in Flex were worth $10,707,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FLEX. Invesco Ltd. increased its position in shares of Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after acquiring an additional 5,741,044 shares during the last quarter. Norges Bank purchased a new stake in shares of Flex during the 4th quarter valued at $103,178,000. Millennium Management LLC raised its stake in shares of Flex by 156.8% during the 4th quarter. Millennium Management LLC now owns 5,047,486 shares of the technology company’s stock worth $108,319,000 after purchasing an additional 3,081,799 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Flex by 580,549.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,525,823 shares of the technology company’s stock worth $69,814,000 after buying an additional 2,525,388 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Flex by 306.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,265,760 shares of the technology company’s stock valued at $75,145,000 after buying an additional 2,461,316 shares during the period. Institutional investors own 95.26% of the company’s stock.

Insider Activity at Flex

In related news, insider Rebecca Sidelinger sold 13,675 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the sale, the insider now directly owns 161,913 shares in the company, valued at approximately $4,531,944.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the transaction, the insider now owns 161,913 shares in the company, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FLEX shares. The Goldman Sachs Group raised their price target on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com began coverage on Flex in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock.

Check Out Our Latest Stock Analysis on FLEX

Flex Stock Performance

NASDAQ:FLEX opened at $29.97 on Tuesday. The business’s fifty day moving average is $25.92 and its 200 day moving average is $26.20. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.75.

Flex (NASDAQ:FLEXGet Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. Research analysts predict that Flex Ltd. will post 2.16 EPS for the current year.

About Flex

(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.

See Also

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEXFree Report).

Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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