Flex Ltd. (NASDAQ:FLEX) EVP Sells $198,053.46 in Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 4,554 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $43.49, for a total value of $198,053.46. Following the completion of the sale, the executive vice president now directly owns 155,530 shares of the company's stock, valued at approximately $6,763,999.70. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, June 12th, David Scott Offer sold 9,759 shares of Flex stock. The shares were sold at an average price of $43.25, for a total value of $422,076.75.
• 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 value of $1,517,340.78.
• On Tuesday, June 3rd, David Scott Offer sold 11,025 shares of Flex stock. The shares were sold at an average price of $42.90, for a total value of $472,972.50.
• On Tuesday, May 13th, David Scott Offer sold 32,172 shares of Flex stock. The stock was sold at an average price of $41.99, for a total value of $1,350,902.28.
• On Friday, May 2nd, David Scott Offer sold 87,093 shares of Flex stock. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99.

Flex Price Performance

Flex stock traded up $0.78 during mid-day trading on Monday, reaching $43.91. 3,015,985 shares of the company were exchanged, compared to its average volume of 3,877,599. The company has a fifty day simple moving average of $38.21 and a 200-day simple moving average of $38.33. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. 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 cap of $16.39 billion, a PE ratio of 17.71, a PEG ratio of 2.43 and a beta of 1.04.

Flex (NASDAQ:FLEX - Get Free Report) last posted 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 return on equity of 17.93% and a net margin of 3.95%. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the company earned $0.57 EPS. The company's revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flex

A number of hedge funds have recently added to or reduced their stakes in FLEX. Norges Bank bought a new position in Flex during the 4th quarter worth $229,484,000. Invesco Ltd. increased its stake in shares of Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after purchasing an additional 2,968,285 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Flex by 3,794.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock valued at $95,936,000 after purchasing an additional 2,825,667 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Flex by 210.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock valued at $75,148,000 after purchasing an additional 1,327,298 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Flex by 13,790.0% in the 4th quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company's stock valued at $47,528,000 after purchasing an additional 1,229,106 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group dropped their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. KeyCorp reissued an "overweight" rating on shares of Flex in a report on Tuesday, June 3rd. Bank of America lifted their price target on Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $46.00.

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.