Oregon Public Employees Retirement Fund Purchases New Stake in Flex Ltd. (NASDAQ:FLEX)

Oregon Public Employees Retirement Fund acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 78,900 shares of the technology company’s stock, valued at approximately $3,029,000.

Several other large investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter worth $29,000. R Squared Ltd acquired a new position in shares of Flex during the fourth quarter worth about $35,000. Huntington National Bank boosted its position in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of Flex during the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Down 5.0 %

NASDAQ FLEX opened at $37.79 on Friday. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company’s fifty day moving average price is $41.09 and its two-hundred day moving average price is $36.94.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $44.33.

Flex Company 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.