California State Teachers Retirement System Sells 16,848 Shares of Flex Ltd. $FLEX

California State Teachers Retirement System trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 3.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 494,045 shares of the technology company’s stock after selling 16,848 shares during the period. California State Teachers Retirement System’s holdings in Flex were worth $32,340,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in shares of Flex during the fourth quarter worth about $28,000. Parkside Financial Bank & Trust raised its stake in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Flex during the fourth quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd lifted its position in Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after purchasing an additional 695 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in Flex by 58.1% in the 4th quarter. CENTRAL TRUST Co now owns 797 shares of the technology company’s stock worth $48,000 after buying an additional 293 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Trading Up 1.6%

FLEX stock opened at $113.75 on Friday. The company has a market capitalization of $41.68 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 0.58 and a beta of 1.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 1.38. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The company’s 50 day moving average price is $139.51 and its two-hundred day moving average price is $99.72.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The company had revenue of $7.93 billion during the quarter. As a group, analysts predict that Flex Ltd. will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 7,269 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the transaction, the insider directly owned 245,930 shares of the company’s stock, valued at approximately $35,713,954.60. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.18, for a total value of $5,689,313.84. Following the completion of the transaction, the chief executive officer owned 584,278 shares in the company, valued at approximately $84,825,480.04. This represents a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

FLEX has been the topic of several research reports. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Barclays reduced their target price on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Robert W. Baird set a $142.00 price objective on Flex in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.20.

About Flex

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.