Teacher Retirement System of Texas Has $5.68 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Teacher Retirement System of Texas lessened its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 58.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,617 shares of the technology company's stock after selling 239,903 shares during the period. Teacher Retirement System of Texas' holdings in Flex were worth $5,677,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Evergreen Capital Management LLC increased its position in Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after acquiring an additional 266 shares during the period. Arizona State Retirement System raised its stake in shares of Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock valued at $4,424,000 after acquiring an additional 403 shares during the period. Park Avenue Securities LLC boosted its position in shares of Flex by 1.8% during the first quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company's stock valued at $824,000 after buying an additional 432 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Flex by 11.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock valued at $170,000 after purchasing an additional 447 shares during the period. Institutional investors own 94.30% of the company's stock.

Flex Price Performance

FLEX stock traded down $0.03 on Tuesday, reaching $51.43. 220,655 shares of the company's stock were exchanged, compared to its average volume of 4,004,585. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $19.22 billion, a PE ratio of 24.28, a P/E/G ratio of 1.92 and a beta of 1.07. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $52.17. The stock has a fifty day moving average of $43.27 and a 200-day moving average of $39.41.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 19.01% and a net margin of 3.25%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the business posted $0.57 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FLEX shares. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Bank of America upped their price objective on shares of Flex from $48.00 to $50.00 and gave the company a "buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. cut their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, KeyCorp increased their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $48.29.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 6,887 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $309,983.87. Following the sale, the insider directly owned 303,718 shares of the company's stock, valued at $13,670,347.18. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Wendler sold 1,245 shares of Flex stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $56,037.45. Following the transaction, the chief accounting officer owned 47,619 shares in the company, valued at $2,143,331.19. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,135,941 shares of company stock worth $47,582,965. 0.57% of the stock is currently owned by insiders.

Flex 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.