New York State Common Retirement Fund Sells 78,007 Shares of Flex Ltd. (NASDAQ:FLEX)

New York State Common Retirement Fund cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,255,028 shares of the technology company’s stock after selling 78,007 shares during the period. New York State Common Retirement Fund owned 0.29% of Flex worth $38,228,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC bought a new position in shares of Flex in the third quarter worth about $30,000. CWM LLC increased its stake in Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares during the period. Fifth Third Bancorp increased its stake in Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,455 shares during the period. Bruce G. Allen Investments LLC bought a new position in Flex during the fourth quarter valued at about $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Flex during the fourth quarter valued at about $77,000. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FLEX. StockNews.com began coverage on Flex in a report on Wednesday, March 6th. They set a “hold” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price objective on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Flex currently has an average rating of “Moderate Buy” and an average price target of $34.20.

Insider Buying and Selling

In related news, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock worth $4,055,311 in the last quarter. Insiders own 0.56% of the company’s stock.

Flex Stock Down 0.1 %

Shares of FLEX opened at $28.50 on Thursday. The company has a market capitalization of $12.00 billion, a P/E ratio of 16.96, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. Flex Ltd. has a one year low of $19.44 and a one year high of $30.93. The business’s 50 day simple moving average is $28.44 and its 200-day simple moving average is $26.76.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Flex Ltd. will post 2.16 EPS for the current fiscal year.

About Flex

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.