David Scott Offer Sells 9,759 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 9,759 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $43.25, for a total transaction of $422,076.75. Following the completion of the sale, the executive vice president now owns 61,242 shares of the company's stock, valued at $2,648,716.50. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

David Scott Offer also recently made the following trade(s):

• On Friday, June 13th, David Scott Offer sold 4,554 shares of Flex stock. The stock was sold at an average price of $43.49, for a total transaction of $198,053.46.
• On Wednesday, June 4th, David Scott Offer sold 35,394 shares of Flex stock. The stock was sold at an average price of $42.87, for a total transaction of $1,517,340.78.
• On Tuesday, June 3rd, David Scott Offer sold 11,025 shares of Flex stock. The shares were sold at an average price of $42.90, for a total value of $472,972.50.
• On Tuesday, May 13th, David Scott Offer sold 32,172 shares of Flex stock. The stock was sold at an average price of $41.99, for a total transaction of $1,350,902.28.
• On Friday, May 2nd, David Scott Offer sold 87,093 shares of Flex stock. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99.

Flex Stock Down 1.0%

NASDAQ:FLEX traded down $0.44 during midday trading on Friday, hitting $43.13. 3,086,566 shares of the company were exchanged, compared to its average volume of 3,877,004. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a market capitalization of $16.10 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $38.30.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the company posted $0.57 earnings per share. The business's revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Invst LLC purchased a new position in shares of Flex in the 1st quarter valued at about $615,000. Advisors Capital Management LLC increased its holdings in Flex by 8.4% in the first quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company's stock valued at $252,000 after buying an additional 589 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Flex during the 1st quarter valued at approximately $66,000. Bayforest Capital Ltd boosted its stake in shares of Flex by 369.9% during the 1st quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company's stock worth $480,000 after acquiring an additional 11,431 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock worth $103,714,000 after acquiring an additional 453,455 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FLEX shares. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays boosted their target price on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. KeyCorp reaffirmed an "overweight" rating on shares of Flex in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group lowered their price objective on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $46.00.

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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