Flex Ltd. (NASDAQ:FLEX) CAO Sells $212,335.11 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 4,953 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total value of $212,335.11. Following the completion of the sale, the chief accounting officer now directly owns 44,584 shares in the company, valued at $1,911,316.08. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Daniel Wendler also recently made the following trade(s):

• On Tuesday, June 3rd, Daniel Wendler sold 1,619 shares of Flex stock. The stock was sold at an average price of $42.91, for a total value of $69,471.29.
• On Tuesday, May 13th, Daniel Wendler sold 4,502 shares of Flex stock. The stock was sold at an average price of $41.99, for a total value of $189,038.98.

Flex Stock Up 1.2%

FLEX stock opened at $43.07 on Friday. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The business’s 50-day moving average is $36.44 and its two-hundred day moving average is $38.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.43 and a beta of 1.04.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLEX. Evergreen Capital Management LLC grew its position in shares of Flex by 1.0% during 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 in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Flex by 2.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after buying an additional 266 shares during the last quarter. Dynasty Wealth Management LLC boosted its stake in Flex by 0.7% during the first quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company’s stock valued at $1,232,000 after buying an additional 276 shares during the last quarter. WealthTrust Axiom LLC boosted its stake in Flex by 1.8% during the first quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company’s stock valued at $566,000 after buying an additional 300 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Flex by 30.8% during the first quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company’s stock valued at $43,000 after buying an additional 306 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLEX. Barclays boosted their target price on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. KeyCorp reaffirmed an “overweight” rating on shares of Flex in a report on Tuesday. Wall Street Zen raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Finally, Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $45.33.

About Flex

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.