Public Employees Retirement System of Ohio Reduces Position in Flex Ltd. (NASDAQ:FLEX)

Public Employees Retirement System of Ohio lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,971 shares of the technology company’s stock after selling 418 shares during the period. Public Employees Retirement System of Ohio’s holdings in Flex were worth $566,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Flex by 5.7% during the third quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after buying an additional 302,086 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Flex during the third quarter valued at approximately $251,000. American Century Companies Inc. boosted its position in shares of Flex by 11.2% during the third quarter. American Century Companies Inc. now owns 160,097 shares of the technology company’s stock valued at $4,319,000 after buying an additional 16,170 shares during the period. Tudor Investment Corp Et Al raised its stake in Flex by 81.1% in the third quarter. Tudor Investment Corp Et Al now owns 579,940 shares of the technology company’s stock worth $15,647,000 after buying an additional 259,702 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Flex in the third quarter worth approximately $268,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th.

Flex Stock Performance

Shares of FLEX stock opened at $28.63 on Thursday. The business’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $26.43. The company has a market cap of $12.06 billion, a PE ratio of 17.04, a PEG ratio of 1.77 and a beta of 1.20. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12-month low of $19.44 and a 12-month high of $30.93.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $7.10 billion for 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%. Analysts expect that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Rebecca Sidelinger sold 13,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,943 shares of company stock valued at $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Flex Profile

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.