David Scott Offer Sells 7,037 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 7,037 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $220,258.10. Following the sale, the executive vice president now owns 171,344 shares of the company’s stock, valued at $5,363,067.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The shares were sold at an average price of $32.20, for a total transaction of $356,003.20.
• On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $369,345.62.
• On Thursday, May 9th, David Scott Offer sold 34,097 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $976,879.05.

Flex Stock Performance

Shares of FLEX opened at $31.62 on Wednesday. The stock has a market capitalization of $12.70 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.09 and a beta of 1.13. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $34.12. The company’s fifty day moving average is $30.13 and its two-hundred day moving average is $28.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.52.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. On average, sell-side analysts predict that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLEX. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Barclays boosted their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.83.

Institutional Investors Weigh In On Flex

Institutional investors and hedge funds have recently made changes to their positions in the business. Richardson Financial Services Inc. purchased a new stake in shares of Flex in the 4th quarter worth about $34,000. CWM LLC lifted its holdings in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after purchasing an additional 773 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Flex in the 4th quarter valued at about $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Flex during the 4th quarter valued at about $77,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

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.