Public Employees Retirement System of Ohio Sells 8,407 Shares of Flex Ltd. (NASDAQ:FLEX)

Public Employees Retirement System of Ohio lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 42.9% in the third quarter, Holdings Channel reports. The firm owned 11,179 shares of the technology company’s stock after selling 8,407 shares during the period. Public Employees Retirement System of Ohio’s holdings in Flex were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Janus Henderson Group PLC boosted its holdings 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 buying an additional 344,773 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after purchasing an additional 127,688 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after purchasing an additional 31,214 shares during the period. State Street Corp lifted its position in shares of Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after purchasing an additional 603,208 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $38.64 on Friday. The firm has a market capitalization of $14.98 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $42.47. The firm has a 50-day moving average price of $37.45 and a 200 day moving average price of $33.35.

Insider Activity

In other news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Barclays boosted their price objective on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. Six 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, Flex currently has a consensus rating of “Buy” and a consensus target price of $42.67.

About Flex

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.