Flex Ltd. (NASDAQ:FLEX) CAO Sells $56,037.45 in Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 1,245 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $56,037.45. Following the completion of the sale, the chief accounting officer now directly owns 47,619 shares of the company's stock, valued at approximately $2,143,331.19. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, June 13th, Daniel Wendler sold 884 shares of Flex stock. The shares were sold at an average price of $43.52, for a total value of $38,471.68.
• 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 transaction of $212,335.11.
• On Tuesday, June 3rd, Daniel Wendler sold 1,619 shares of Flex stock. The stock was sold at an average price of $42.91, for a total transaction 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 transaction of $189,038.98.

Flex Price Performance

Shares of NASDAQ FLEX traded down $0.15 during trading on Friday, hitting $46.03. 6,065,247 shares of the company were exchanged, compared to its average volume of 3,895,884. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $46.90. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.04. The firm's fifty day moving average price is $39.44 and its 200 day moving average price is $38.53.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.25% and a return on equity of 19.01%. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm's revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Flex during the first quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of Flex in the first quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of Flex during the 1st quarter worth $26,000. CX Institutional purchased a new stake in shares of Flex in the 1st quarter worth about $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Flex in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. KeyCorp restated an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. reduced their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America increased their price target on shares of Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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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