Flex Ltd. (NASDAQ:FLEX) Insider Sells $421,016.30 in Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 13,451 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $421,016.30. Following the completion of the transaction, the insider now directly owns 183,496 shares in the company, valued at approximately $5,743,424.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 4th, Kwang Hooi Tan sold 12,626 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $410,723.78.
• On Thursday, May 9th, Kwang Hooi Tan sold 14,599 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35.
• On Tuesday, May 7th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The shares were sold at an average price of $29.29, for a total transaction of $235,110.83.

Flex Stock Performance

Shares of FLEX opened at $31.62 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12. The company has a 50-day simple moving average of $30.13 and a two-hundred day simple moving average of $28.09. The firm has a market capitalization of $12.70 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

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

Institutional Trading of Flex

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Troluce Capital Advisors LLC lifted its holdings in Flex by 101.2% in the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after buying an additional 48,097,992 shares during the period. Boston Partners increased its stake in shares of Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares in the last quarter. Norges Bank bought a new position in shares of Flex during the fourth quarter valued at approximately $165,000,000. Westfield Capital Management Co. LP bought a new position in shares of Flex during the first quarter valued at approximately $51,543,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Flex by 211.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock valued at $38,032,000 after purchasing an additional 956,676 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group increased their target price on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $27.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

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.