State of Alaska Department of Revenue Purchases Shares of 44,210 Flex Ltd. (NASDAQ:FLEX)

State of Alaska Department of Revenue acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 44,210 shares of the technology company’s stock, valued at approximately $1,697,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares during the period. Raymond James Trust N.A. increased its stake in shares of Flex by 2.0% in the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after buying an additional 413 shares during the period. Huntington National Bank raised its holdings in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its position in Flex by 6.4% during the 4th quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock valued at $400,000 after buying an additional 630 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $42.78 on Wednesday. The business has a fifty day moving average price of $40.34 and a 200-day moving average price of $36.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The company has a market capitalization of $16.39 billion, a PE ratio of 17.25, a PEG ratio of 2.58 and a beta of 1.10. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on FLEX. 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. KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday. They issued a “buy” rating and a $52.00 price target on the stock. Finally, Craig Hallum upped their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flex has a consensus 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.