Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi Sells 25,593 Shares

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CEO Revathi Advaithi sold 25,593 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $43.48, for a total transaction of $1,112,783.64. Following the sale, the chief executive officer now directly owns 1,400,777 shares of the company's stock, valued at $60,905,783.96. The trade was a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Revathi Advaithi also recently made the following trade(s):

• On Thursday, June 12th, Revathi Advaithi sold 132,000 shares of Flex stock. The shares were sold at an average price of $43.70, for a total transaction of $5,768,400.00.
• On Thursday, June 5th, Revathi Advaithi sold 181,028 shares of Flex stock. The stock was sold at an average price of $42.91, for a total transaction of $7,767,911.48.
• On Tuesday, June 3rd, Revathi Advaithi sold 59,150 shares of Flex stock. The stock was sold at an average price of $42.90, for a total transaction of $2,537,535.00.
• On Tuesday, May 13th, Revathi Advaithi sold 164,700 shares of Flex stock. The shares were sold at an average price of $41.99, for a total value of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The stock was sold at an average price of $38.09, for a total value of $4,581,465.20.

Flex Stock Performance

NASDAQ FLEX traded down $0.44 during trading hours on Friday, hitting $43.13. The company had a trading volume of 3,086,566 shares, compared to its average volume of 3,877,006. 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 firm has a market cap of $16.10 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The business 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 data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. Equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Bank of America boosted their target price on shares of Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group dropped 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. KeyCorp reaffirmed an "overweight" rating on shares of Flex in a report on Tuesday, June 3rd. Finally, Barclays increased their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $46.00.

Institutional Investors Weigh In On Flex

A number of hedge funds have recently made changes to their positions in FLEX. Invst LLC acquired a new stake in Flex in the 1st quarter valued at approximately $615,000. Advisors Capital Management LLC increased its holdings in shares of Flex by 8.4% during the first quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company's stock valued at $252,000 after purchasing an additional 589 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Flex during the first quarter valued at about $66,000. Bayforest Capital Ltd raised its stake in shares of Flex by 369.9% during the first quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company's stock valued at $480,000 after purchasing an additional 11,431 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Flex by 16.9% in the first 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 purchasing an additional 453,455 shares during the period. Institutional investors 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.