Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi Sells 37,170 Shares

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 37,170 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $1,163,421.00. Following the completion of the transaction, the chief executive officer now owns 2,057,473 shares in the company, valued at approximately $64,398,904.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Revathi Advaithi also recently made the following trade(s):

• On Tuesday, June 11th, Revathi Advaithi sold 54,637 shares of Flex stock. The stock was sold at an average price of $32.20, for a total value of $1,759,311.40.
• On Tuesday, June 4th, Revathi Advaithi sold 61,042 shares of Flex stock. The stock was sold at an average price of $32.53, for a total value of $1,985,696.26.
• On Thursday, May 9th, Revathi Advaithi sold 161,052 shares of Flex stock. The stock was sold at an average price of $28.65, for a total value of $4,614,139.80.

Flex Trading Up 0.1 %

Flex stock opened at $31.62 on Wednesday. The business has a 50 day moving average price of $30.13 and a two-hundred day moving average price of $28.09. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. As a group, equities analysts forecast that Flex Ltd. will post 2.06 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Flex

Large investors have recently modified their holdings of the stock. Ardsley Advisory Partners LP grew its stake in shares of Flex by 11.5% in the 3rd quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock valued at $10,617,000 after purchasing an additional 40,500 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Flex in the 4th quarter valued at approximately $2,909,000. abrdn plc grew its stake in shares of Flex by 106.0% in the 4th quarter. abrdn plc now owns 146,524 shares of the technology company’s stock valued at $4,463,000 after purchasing an additional 75,387 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Flex by 21.8% in the 4th quarter. Vontobel Holding Ltd. now owns 201,902 shares of the technology company’s stock valued at $6,150,000 after purchasing an additional 36,082 shares during the period. Finally, Legal & General Group Plc grew its position in Flex by 9.3% during the 3rd quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock worth $61,836,000 after acquiring an additional 195,447 shares during the last quarter. 94.30% of the stock is currently owned by 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.