Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $5.59 Million Stock Position in Flex Ltd. $FLEX

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Flex Ltd. (NASDAQ:FLEX) by 3.9% in the 4th quarter, HoldingsChannel reports. The fund owned 92,537 shares of the technology company’s stock after selling 3,789 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Flex were worth $5,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FLEX. Brighton Jones LLC acquired a new position in Flex in the 4th quarter valued at approximately $260,000. Goldman Sachs Group Inc. raised its holdings in Flex by 19.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock valued at $42,314,000 after acquiring an additional 211,046 shares in the last quarter. Empowered Funds LLC acquired a new position in Flex in the 1st quarter valued at approximately $397,000. EverSource Wealth Advisors LLC raised its holdings in Flex by 63.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Flex by 92.4% in the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock valued at $3,099,000 after acquiring an additional 29,821 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FLEX shares. JPMorgan Chase & Co. upped their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. The Goldman Sachs Group upped their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. Finally, Stifel Nicolaus upped their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Insider Buying and Selling at Flex

In related news, COO Kwang Hooi Tan sold 17,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the sale, the chief operating officer directly owned 238,543 shares in the company, valued at $32,425,149.99. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the sale, the insider owned 232,706 shares in the company, valued at approximately $33,132,680.28. This trade represents a 8.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 329,512 shares of company stock worth $44,459,298 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Flex Trading Up 7.7%

FLEX stock opened at $159.43 on Wednesday. Flex Ltd. has a 1-year low of $42.31 and a 1-year high of $159.86. The firm has a market cap of $58.41 billion, a P/E ratio of 68.43, a P/E/G ratio of 0.78 and a beta of 1.64. The business’s 50 day moving average is $100.23 and its 200-day moving average is $76.11. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

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

Flex Company Profile

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.