Arizona State Retirement System Reduces Stock Position in Flex Ltd. (NASDAQ:FLEX)

Arizona State Retirement System trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,851 shares of the technology company’s stock after selling 1,432 shares during the quarter. Arizona State Retirement System’s holdings in Flex were worth $3,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FLEX. Stratos Wealth Advisors LLC increased its holdings in shares of Flex by 3.1% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company’s stock valued at $403,000 after purchasing an additional 452 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Flex by 3.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock worth $368,000 after acquiring an additional 497 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Flex by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 10,165 shares of the technology company’s stock valued at $281,000 after acquiring an additional 497 shares during the period. Atlas Capital Advisors LLC grew its holdings in Flex by 1.7% in the fourth quarter. Atlas Capital Advisors LLC now owns 30,412 shares of the technology company’s stock valued at $653,000 after purchasing an additional 519 shares during the period. Finally, Wahed Invest LLC grew its stake in Flex by 8.1% in the 3rd quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after acquiring an additional 530 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Price Performance

Shares of NASDAQ FLEX opened at $28.77 on Tuesday. Flex Ltd. has a 52 week low of $19.44 and a 52 week high of $30.93. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $27.79 and a 200-day simple moving average of $26.59.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. Flex had a return on equity of 16.24% and a net margin of 2.56%. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. On average, equities analysts predict that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLEX has been the topic of several recent analyst reports. StockNews.com assumed coverage on shares of Flex in a report on Wednesday, March 6th. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 75,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rebecca Sidelinger sold 13,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $27.99, for a total transaction of $382,763.25. Following the sale, the insider now owns 161,913 shares of the company’s stock, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock valued at $4,055,311 in the last three months. 0.56% of the stock is currently owned by insiders.

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.