Charles Stevens III Sells 15,000 Shares of Flex (NASDAQ:FLEX) Stock

Key Points

• Insider sale: Flex Director Charles Stevens III sold 15,000 shares on May 8 for about $2.07 million, cutting his direct stake by 24.82% to 45,426 shares.
• Strong quarterly results: Flex reported fiscal Q4 EPS of $0.93, topping estimates of $0.87, while revenue rose 17.2% year over year to $7.48 billion.
• Analyst sentiment remains positive: Several Wall Street firms raised price targets, and the stock now has a consensus rating of Moderate Buy with an average target price of $112.80.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Charles Stevens III sold 15,000 shares of Flex stock in a transaction on Friday, May 8th. The shares were sold at an average price of $138.14, for a total value of $2,072,100.00. Following the completion of the sale, the director directly owned 45,426 shares of the company's stock, valued at approximately $6,275,147.64. This represents a 24.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Flex Trading Up 6.9%

Shares of NASDAQ:FLEX traded up $9.16 during midday trading on Friday, reaching $142.17. The company's stock had a trading volume of 10,293,915 shares, compared to its average volume of 5,072,547. The firm has a market cap of $52.27 billion, a price-to-earnings ratio of 61.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 1 year low of $38.30 and a 1 year high of $142.59. The business has a 50 day moving average price of $74.45 and a 200 day moving average price of $67.03.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.06. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.96 billion. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 earnings per share. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. Research analysts forecast that Flex Ltd. will post 3.31 EPS for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, April 20th. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial set a $80.00 price objective on Flex and gave the company an "outperform" rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Finally, Barclays boosted their price target on Flex from $72.00 to $174.00 and gave the company an "overweight" rating in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Flex presently has an average rating of "Moderate Buy" and a consensus target price of $112.80.

Institutional Trading of Flex

Hedge funds and other institutional investors have recently bought and sold shares of the company. USA Financial Formulas bought a new stake in Flex in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust increased its holdings in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock valued at $28,000 after buying an additional 166 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Flex in the fourth quarter valued at about $28,000. CENTRAL TRUST Co increased its holdings in Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock valued at $29,000 after buying an additional 355 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Flex in the fourth quarter valued at about $42,000. 94.30% of the stock is owned by institutional investors.

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.

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