Flex Ltd. $FLEX Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 76.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,929 shares of the technology company’s stock after selling 29,045 shares during the quarter. Strs Ohio’s holdings in Flex were worth $518,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FLEX. Boston Partners lifted its holdings in shares of Flex by 3.5% in the 2nd quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock worth $1,029,769,000 after purchasing an additional 687,835 shares during the last quarter. State Street Corp lifted its holdings in Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. Invesco Ltd. boosted its holdings in shares of Flex by 6.1% in the second quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock valued at $442,870,000 after acquiring an additional 508,495 shares in the last quarter. Geode Capital Management LLC boosted its stake in Flex by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after purchasing an additional 2,459,511 shares in the last quarter. Finally, Norges Bank acquired a new position in Flex during the second quarter worth about $291,362,000. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Down 3.7%

Shares of FLEX stock opened at $63.04 on Friday. The firm has a fifty day moving average of $63.22 and a 200-day moving average of $58.81. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 1.73 and a beta of 1.24. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $72.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

Insider Activity at Flex

In related news, Director Michael E. Hurlston sold 10,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the director owned 58,561 shares in the company, valued at $3,396,538. This trade represents a 14.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total transaction of $933,150.00. Following the sale, the insider directly owned 211,198 shares of the company’s stock, valued at approximately $13,138,627.58. The trade was a 6.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 101,406 shares of company stock valued at $6,129,539. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FLEX shares. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Raymond James Financial raised Flex from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 14th. Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Argus set a $85.00 target price on shares of Flex in a research report on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.11.

Flex Company Profile

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.