Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer Sells 11,025 Shares

Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 11,025 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $42.90, for a total transaction of $472,972.50. Following the completion of the sale, the executive vice president now directly owns 106,277 shares in the company, valued at $4,559,283.30. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, June 4th, David Scott Offer sold 35,394 shares of Flex stock. The shares were sold at an average price of $42.87, for a total transaction of $1,517,340.78.
• On Tuesday, May 13th, David Scott Offer sold 32,172 shares of Flex stock. The shares were 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 shares were sold at an average price of $36.43, for a total value of $3,172,797.99.

Flex Trading Down 1.0%

Shares of NASDAQ FLEX traded down $0.45 during mid-day trading on Wednesday, hitting $42.77. The stock had a trading volume of 2,612,486 shares, compared to its average volume of 3,883,336. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $45.10. The business has a 50 day moving average price of $36.06 and a two-hundred day moving average price of $38.12. The firm has a market cap of $15.97 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The firm had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLEX. Rise Advisors LLC purchased a new position in shares of Flex during the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in Flex during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. purchased a new position in Flex during the 1st quarter valued at $26,000. CX Institutional purchased a new position in Flex during the 1st quarter valued at $29,000. Finally, R Squared Ltd purchased a new position in Flex during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 94.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. KeyCorp raised their price objective on Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group decreased their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note 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 research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target 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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