Flex Ltd. (NASDAQ:FLEX) CEO Sells $7,767,911.48 in Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CEO Revathi Advaithi sold 181,028 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $42.91, for a total transaction of $7,767,911.48. Following the completion of the sale, the chief executive officer now directly owns 1,463,695 shares of the company's stock, valued at $62,807,152.45. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, June 3rd, Revathi Advaithi sold 59,150 shares of Flex stock. The shares were 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 transaction of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The shares were sold at an average price of $38.09, for a total transaction of $4,581,465.20.

Flex Stock Up 1.2%

Shares of NASDAQ FLEX traded up $0.51 during midday trading on Friday, hitting $43.07. The company's stock had a trading volume of 2,356,285 shares, compared to its average volume of 3,866,527. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The business's fifty day simple moving average is $36.44 and its two-hundred day simple moving average is $38.20. Flex Ltd. has a 1 year low of $25.11 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter last year, the company posted $0.57 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Rise Advisors LLC acquired a new stake in Flex in the 1st quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Flex during the first quarter worth approximately $26,000. Olde Wealth Management LLC acquired a new stake in Flex in the first quarter valued at approximately $26,000. CX Institutional purchased a new position in Flex in the first quarter worth approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex during the 4th quarter worth approximately $35,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price for the company. KeyCorp reiterated an "overweight" rating on shares of Flex in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Barclays boosted 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $45.33.

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.

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