California Public Employees Retirement System Sells 486,482 Shares of Flex Ltd (FLEX)

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California Public Employees Retirement System lowered its stake in Flex Ltd (NASDAQ:FLEX) by 28.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,213,218 shares of the technology company’s stock after selling 486,482 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Flex worth $9,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLEX. Primecap Management Co. CA raised its stake in shares of Flex by 13.4% in the third quarter. Primecap Management Co. CA now owns 65,011,618 shares of the technology company’s stock worth $852,952,000 after buying an additional 7,670,189 shares during the period. Victory Capital Management Inc. raised its stake in shares of Flex by 52.9% in the fourth quarter. Victory Capital Management Inc. now owns 20,176,057 shares of the technology company’s stock worth $153,540,000 after buying an additional 6,979,920 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Flex by 248.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,132,518 shares of the technology company’s stock worth $31,446,000 after buying an additional 2,945,692 shares during the period. Deutsche Bank AG raised its stake in shares of Flex by 328.9% in the third quarter. Deutsche Bank AG now owns 3,007,000 shares of the technology company’s stock worth $39,449,000 after buying an additional 2,305,922 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Flex by 1,608.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,043,772 shares of the technology company’s stock worth $269,000 after buying an additional 1,924,141 shares during the period. 91.38% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on FLEX. ValuEngine cut Flex from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. BidaskClub upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wolfe Research began coverage on Flex in a research report on Tuesday, December 11th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. cut Flex from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $12.00 in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $15.17.

NASDAQ:FLEX opened at $9.92 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 0.75. Flex Ltd has a 12-month low of $6.74 and a 12-month high of $19.09. The stock has a market cap of $5.24 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.37 and a beta of 1.79.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Flex had a return on equity of 4.47% and a net margin of 0.52%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Flex Ltd will post 0.66 EPS for the current year.

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Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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