Flex Ltd. (NASDAQ:FLEX) EVP Sells $422,076.75 in Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 9,759 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $43.25, for a total transaction of $422,076.75. Following the completion of the transaction, the executive vice president now directly owns 61,242 shares of the company’s stock, valued at approximately $2,648,716.50. This trade represents a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

David Scott Offer also recently made the following trade(s):

• On Friday, June 13th, David Scott Offer sold 4,554 shares of Flex stock. The shares were sold at an average price of $43.49, for a total transaction of $198,053.46.
• On Wednesday, June 4th, David Scott Offer sold 35,394 shares of Flex stock. The stock was sold at an average price of $42.87, for a total transaction of $1,517,340.78.
• On Tuesday, June 3rd, David Scott Offer sold 11,025 shares of Flex stock. The shares were sold at an average price of $42.90, for a total transaction of $472,972.50.
• On Tuesday, May 13th, David Scott Offer sold 32,172 shares of Flex stock. The stock was sold at an average price of $41.99, for a total value of $1,350,902.28.
• On Friday, May 2nd, David Scott Offer sold 87,093 shares of Flex stock. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99.

Flex Trading Down 1.0%

FLEX stock opened at $43.13 on Monday. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The firm’s 50-day moving average is $37.88 and its 200 day moving average is $38.29. The company has a market capitalization of $16.10 billion, a PE ratio of 17.39, a P/E/G ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp restated an “overweight” rating on shares of Flex in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lowered their target price on shares of Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Bank of America upped their price target on shares of Flex from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 9th. Finally, Barclays increased 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. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.00.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. United Services Automobile Association purchased a new stake in Flex in the fourth quarter worth about $982,000. Brandywine Global Investment Management LLC lifted its position 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 worth $5,119,000 after purchasing an additional 91,571 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Flex during the fourth quarter valued at approximately $7,864,000. Raymond James Financial Inc. purchased a new position in Flex during the fourth quarter valued at approximately $32,293,000. Finally, American Century Companies Inc. raised its stake in Flex by 19.7% in the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company’s stock worth $26,637,000 after buying an additional 114,350 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

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.