State of Tennessee Department of Treasury Acquires Shares of 159,958 Flex Ltd. (NASDAQ:FLEX)

State of Tennessee Department of Treasury purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 159,958 shares of the technology company's stock, valued at approximately $6,141,000.

A number of other institutional investors have also added to or reduced their stakes in FLEX. Evergreen Capital Management LLC increased its stake in shares of Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares during the period. Rockefeller Capital Management L.P. increased its position in Flex by 2.1% in the 4th 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. Sage Rhino Capital LLC lifted its holdings in shares of Flex by 1.1% during the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after purchasing an additional 374 shares during the period. Arizona State Retirement System grew 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 worth $4,424,000 after purchasing an additional 403 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Flex by 11.2% in 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. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLEX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. KeyCorp reduced their target price on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus began coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $43.67.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Flex Stock Down 2.6 %

FLEX traded down $0.92 during midday trading on Wednesday, hitting $33.97. The company had a trading volume of 1,293,283 shares, compared to its average volume of 3,978,605. The stock's 50 day moving average price is $33.75 and its 200 day moving average price is $37.36. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The company has a market capitalization of $13.01 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.43 and a beta of 0.99. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.