Erin Mcsweeney Sells 3,000 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $145.88, for a total value of $437,640.00. Following the completion of the transaction, the director owned 11,512 shares in the company, valued at approximately $1,679,370.56. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Erin Mcsweeney also recently made the following trade(s):

• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The stock was sold at an average price of $136.59, for a total value of $341,475.00.

Flex Trading Down 4.0%

NASDAQ:FLEX opened at $137.86 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex Ltd. has a one year low of $40.15 and a one year high of $147.34. The business’s 50-day simple moving average is $83.80 and its 200 day simple moving average is $70.32. The stock has a market cap of $50.69 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FLEX shares. The Goldman Sachs Group boosted their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Stifel Nicolaus boosted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Barclays boosted their price objective on Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.80.

Hedge Funds Weigh In On Flex

Hedge funds and other institutional investors have recently made changes to their positions in the business. USA Financial Formulas acquired a new position in shares of Flex during the fourth quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex in the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its position in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the period. CENTRAL TRUST Co lifted its position in Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the period. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the fourth quarter worth approximately $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.