Flex Ltd. (NASDAQ:FLEX) CAO Sells $189,038.98 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 4,502 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the sale, the chief accounting officer now owns 38,676 shares in the company, valued at approximately $1,624,005.24. This represents a 10.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Flex Price Performance

Shares of NASDAQ FLEX opened at $41.95 on Friday. The stock has a market cap of $16.07 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.43 and a beta of 0.96. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The stock has a 50 day moving average of $34.12 and a two-hundred day moving average of $37.65. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. Flex’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new stake in Flex during the 1st quarter worth approximately $26,000. Olde Wealth Management LLC acquired a new stake in shares of Flex during the first quarter worth $26,000. CX Institutional purchased a new position in Flex in the 1st quarter valued at $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex in the 4th quarter valued at $35,000. Finally, R Squared Ltd purchased a new position in Flex during the 4th quarter worth $35,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Barclays boosted their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. KeyCorp increased their target price on shares of Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

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.