Flex (NASDAQ:FLEX) COO Kwang Hooi Tan Sells 10,540 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 10,540 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the transaction, the chief operating officer directly owned 235,602 shares in the company, valued at approximately $34,873,808.04. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kwang Hooi Tan also recently made the following trade(s):

• On Tuesday, May 26th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00.
• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The shares were sold at an average price of $142.37, for a total transaction of $3,726,534.75.

Flex Stock Down 2.6%

FLEX stock opened at $143.13 on Thursday. The firm has a market cap of $52.44 billion, a PE ratio of 61.43, a PEG ratio of 0.77 and a beta of 1.64. Flex Ltd. has a 1 year low of $45.31 and a 1 year high of $166.86. The company has a fifty day simple moving average of $120.56 and a 200 day simple moving average of $83.95. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion for the quarter. Sell-side analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the subject of several analyst reports. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Barclays lifted their price target on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. KeyCorp boosted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. The Goldman Sachs Group upped their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.70.

Institutional Trading of Flex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new position in Flex in the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Flex in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of 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 acquiring an additional 166 shares during the last quarter. CENTRAL TRUST Co increased its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares during the period. Finally, Gables Capital Management Inc. bought a new position in Flex during the fourth quarter worth $42,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

More Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst coverage remains constructive, with several firms raising price targets in recent weeks and the stock still carrying a “Moderate Buy” consensus, which supports the longer-term outlook. Flex stock page
• Neutral Sentiment: Insiders, including CEO Revathi Advaithi, CFO Kevin Krumm, COO Kwang Hooi Tan, and EVP David Scott Offer, sold shares in recent days, but the filings say the sales were made to cover tax withholding obligations tied to equity awards and, in one case, under a pre-arranged 10b5-1 plan. SEC filing
• Neutral Sentiment: Flex continues to show solid operating fundamentals, with its most recent quarter delivering $0.93 EPS on $7.48 billion in revenue, which helps offset some of the sentiment impact from insider selling. Flex stock page
• Negative Sentiment: The biggest drag on sentiment is the cluster of insider sales across senior leadership, which can signal caution to traders even when the transactions are explained as non-discretionary. SEC filing

Flex Company Profile

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.