Teacher Retirement System of Texas Purchases 54,972 Shares of Flex Ltd. $FLEX

Teacher Retirement System of Texas grew its position in Flex Ltd. (NASDAQ:FLEX) by 35.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 209,748 shares of the technology company’s stock after purchasing an additional 54,972 shares during the period. Teacher Retirement System of Texas’ holdings in Flex were worth $12,159,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Boston Partners increased its position in Flex by 3.5% in the second quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock worth $1,029,769,000 after purchasing an additional 687,835 shares during the period. State Street Corp lifted its position in Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares during the period. Invesco Ltd. boosted its stake in shares of Flex by 6.1% in the 2nd quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock valued at $442,870,000 after purchasing an additional 508,495 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Flex by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after buying an additional 2,459,511 shares during the period. Finally, Norges Bank bought a new stake in shares of Flex during the second quarter worth approximately $291,362,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Flex in a research note on Wednesday, November 12th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Bank of America raised their target price on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, KeyCorp upped their price target on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.11.

Flex Stock Performance

FLEX stock opened at $63.78 on Friday. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The firm has a market cap of $23.59 billion, a PE ratio of 28.22, a P/E/G ratio of 1.69 and a beta of 1.24. The business’s 50-day moving average price is $62.44 and its two-hundred day moving average price is $58.41.

Insiders Place Their Bets

In related news, Director William D. Watkins sold 20,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total transaction of $719,700.00. Following the sale, the chief accounting officer owned 27,619 shares in the company, valued at $1,987,739.43. This trade represents a 26.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 128,906 shares of company stock worth $7,904,439 in the last three months. 0.57% of the stock is owned by corporate insiders.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.