Flex Ltd. (NASDAQ:FLEX) CAO Sells $38,471.68 in Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 884 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $43.52, for a total value of $38,471.68. Following the transaction, the chief accounting officer now directly owns 48,864 shares of the company's stock, valued at $2,126,561.28. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, June 4th, Daniel Wendler sold 4,953 shares of Flex stock. The shares were sold at an average price of $42.87, for a total value of $212,335.11.
• 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 Price Performance

NASDAQ FLEX traded down $0.44 on Friday, reaching $43.13. 3,086,566 shares of the stock traded hands, compared to its average volume of 3,881,059. The firm's fifty day simple moving average is $37.88 and its 200 day simple moving average is $38.30. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on FLEX. JPMorgan Chase & Co. lowered their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Bank of America increased their price objective on Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Barclays increased their price objective on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group decreased their price objective on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $46.00.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of FLEX. Rise Advisors LLC acquired a new stake in shares of Flex during the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new stake in shares of Flex during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Flex during the 1st quarter valued at $26,000. CX Institutional acquired a new stake in shares of Flex during the 1st quarter valued at $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex during the 4th quarter valued at $35,000. Institutional investors and hedge funds 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.