Daniel Wendler Sells 4,953 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 4,953 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total transaction of $212,335.11. Following the completion of the transaction, the chief accounting officer now owns 44,584 shares of the company's stock, valued at approximately $1,911,316.08. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Daniel Wendler also recently made the following trade(s):

• On Tuesday, June 3rd, Daniel Wendler sold 1,619 shares of Flex stock. The shares were sold at an average price of $42.91, for a total value of $69,471.29.
• On Tuesday, May 13th, Daniel Wendler sold 4,502 shares of Flex stock. The shares were sold at an average price of $41.99, for a total value of $189,038.98.

Flex Trading Down 1.0%

NASDAQ FLEX traded down $0.45 during mid-day trading on Wednesday, hitting $42.77. The company's stock had a trading volume of 2,612,486 shares, compared to its average volume of 3,883,336. The firm has a market capitalization of $15.97 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10. The stock's fifty day simple moving average is $36.06 and its two-hundred day simple moving average is $38.12.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. Flex's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Hedge Funds Weigh In On Flex

Several hedge funds have recently made changes to their positions in FLEX. Evergreen Capital Management LLC grew its holdings in shares of Flex by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after buying an additional 266 shares during the period. Dynasty Wealth Management LLC lifted its holdings in shares of Flex by 0.7% during the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company's stock worth $1,232,000 after acquiring an additional 276 shares during the period. WealthTrust Axiom LLC lifted its position in shares of Flex by 1.8% during the 1st quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company's stock worth $566,000 after buying an additional 300 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of Flex by 30.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FLEX shares. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Barclays lifted their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. KeyCorp boosted their price target on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $45.33.

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.

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