Flex Ltd. (NASDAQ:FLEX) Insider Kwang Hooi Tan Sells 8,028 Shares

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flex Trading Up 0.1 %

NASDAQ:FLEX opened at $35.25 on Tuesday. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $35.84. The firm has a 50 day moving average of $32.49 and a 200 day moving average of $30.99. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.01 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FLEX shares. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus lifted their price target on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Finally, The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. Boston Partners raised its holdings in shares of Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after buying an additional 10,201,162 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Flex in the second quarter worth $72,808,000. Westfield Capital Management Co. LP acquired a new stake in Flex during the first quarter valued at $51,543,000. Point72 Asset Management L.P. grew its position in Flex by 1,242.5% during the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock valued at $21,495,000 after buying an additional 792,700 shares during the period. Finally, TCW Group Inc. grew its position in Flex by 48.1% during the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after buying an additional 556,286 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.