Teacher Retirement System of Texas Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

Teacher Retirement System of Texas increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 411,520 shares of the technology company’s stock after purchasing an additional 28,881 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Flex worth $15,798,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after purchasing an additional 344,773 shares during the period. Boston Partners boosted its position in shares of Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after purchasing an additional 569,916 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after buying an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after buying an additional 296,505 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after buying an additional 3,844,935 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

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

Flex Price Performance

Shares of FLEX opened at $36.40 on Friday. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The firm’s fifty day simple moving average is $39.68 and its 200-day simple moving average is $37.32. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FLEX. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.