Daniel Wendler Sells 884 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 884 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $43.52, for a total value of $38,471.68. Following the completion of the transaction, the chief accounting officer now directly owns 48,864 shares of the company’s stock, valued at $2,126,561.28. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, June 4th, Daniel Wendler sold 4,953 shares of Flex stock. The shares were sold at an average price of $42.87, for a total value of $212,335.11.
• 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 Down 1.0%

Shares of NASDAQ:FLEX opened at $43.13 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $37.88 and a two-hundred day moving average of $38.29. The stock has a market cap of $16.10 billion, a P/E ratio of 17.39, a PEG ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10.

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

Institutional Trading of Flex

Several large investors have recently added to or reduced their stakes in FLEX. United Services Automobile Association acquired a new position in shares of Flex in the 4th quarter valued at $982,000. Brandywine Global Investment Management LLC lifted its stake in shares of Flex by 219.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company’s stock valued at $5,119,000 after purchasing an additional 91,571 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Flex in the 4th quarter valued at $7,864,000. Raymond James Financial Inc. acquired a new position in shares of Flex in the 4th quarter valued at $32,293,000. Finally, American Century Companies Inc. lifted its stake in shares of Flex by 19.7% in the 4th quarter. American Century Companies Inc. now owns 693,846 shares of the technology company’s stock valued at $26,637,000 after purchasing an additional 114,350 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. KeyCorp reaffirmed an “overweight” rating on shares of Flex in a research note on Tuesday, June 3rd. Bank of America upped their target price on Flex from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. The Goldman Sachs Group reduced their target price on Flex from $53.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $46.00.

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.