Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer Sells 6,887 Shares

Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 6,887 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $309,983.87. Following the sale, the executive vice president now owns 148,643 shares of the company's stock, valued at approximately $6,690,421.43. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, June 13th, David Scott Offer sold 4,554 shares of Flex stock. The stock was sold at an average price of $43.49, for a total transaction of $198,053.46.
• On Thursday, June 12th, David Scott Offer sold 9,759 shares of Flex stock. The stock was 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 stock was sold at an average price of $42.87, for a total transaction 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 transaction of $3,172,797.99.

Flex Trading Down 0.3%

Shares of FLEX traded down $0.15 during trading hours on Friday, reaching $46.03. 6,065,247 shares of the company traded hands, compared to its average volume of 3,895,884. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.04. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $46.90. The stock's fifty day moving average price is $39.44 and its 200 day moving average price is $38.53. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 0.50.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results 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 net margin of 3.25% and a return on equity of 19.01%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period last year, the company posted $0.57 earnings per share. The company's quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FLEX shares. Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Bank of America increased their price target on shares of Flex from $48.00 to $50.00 and gave the company a "buy" rating in a report on Monday, June 9th. The Goldman Sachs Group dropped their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, KeyCorp reissued an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flex presently has an average rating of "Buy" and a consensus price target of $46.00.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. Evergreen Capital Management LLC lifted its stake in Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after acquiring an additional 246 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Flex by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock worth $488,000 after purchasing an additional 266 shares during the period. Dynasty Wealth Management LLC boosted its stake in shares of Flex by 0.7% during the first 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 in the last quarter. WealthTrust Axiom LLC increased its holdings in Flex by 1.8% during the first quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company's stock valued at $566,000 after buying an additional 300 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in Flex by 30.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock worth $43,000 after buying an additional 306 shares in the last quarter. 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.

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