Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan Sells 12,259 Shares

Flex Ltd. (NASDAQ:FLEX - Get Free Report) COO Kwang Hooi Tan sold 12,259 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $42.90, for a total transaction of $525,911.10. Following the transaction, the chief operating officer now owns 237,554 shares in the company, valued at $10,191,066.60. This represents a 4.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Kwang Hooi Tan also recently made the following trade(s):

• On Wednesday, June 4th, Kwang Hooi Tan sold 37,533 shares of Flex stock. The shares were sold at an average price of $42.87, for a total value of $1,609,039.71.
• On Monday, June 2nd, Kwang Hooi Tan sold 12,500 shares of Flex stock. The shares were sold at an average price of $42.07, for a total value of $525,875.00.
• On Tuesday, May 13th, Kwang Hooi Tan sold 34,335 shares of Flex stock. The shares were sold at an average price of $41.99, for a total value of $1,441,726.65.

Flex Stock Performance

Shares of NASDAQ:FLEX traded down $0.45 on Wednesday, hitting $42.77. 2,612,486 shares of the company were exchanged, compared to its average volume of 3,883,336. The company's 50 day moving average price is $36.06 and its two-hundred day moving average price is $38.12. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 2.43 and a beta of 1.04.

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 the consensus estimate of $0.69 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. Research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Institutional Trading of Flex

Institutional investors and hedge funds have recently modified their holdings of the company. Evergreen Capital Management LLC increased its holdings in Flex by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares during the period. Rockefeller Capital Management L.P. increased its stake in Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after acquiring an additional 266 shares during the period. Dynasty Wealth Management LLC grew its stake in shares of Flex by 0.7% in the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company's stock valued at $1,232,000 after purchasing an additional 276 shares during the period. WealthTrust Axiom LLC grew its stake in shares of Flex by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company's stock valued at $566,000 after purchasing an additional 300 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Flex by 30.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after purchasing an additional 306 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays lifted their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective on the stock. Finally, KeyCorp lifted their price objective on Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Six investment 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, the company has an average rating of "Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.