Flex Ltd. (NASDAQ:FLEX - Get Free Report) COO Kwang Hooi Tan sold 8,981 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.19, for a total value of $1,303,951.39. Following the sale, the chief operating officer owned 248,546 shares of the company's stock, valued at approximately $36,086,393.74. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Kwang Hooi Tan also recently made the following trade(s):
- On Wednesday, June 17th, Kwang Hooi Tan sold 26,657 shares of Flex stock. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36.
- On Monday, June 15th, Kwang Hooi Tan sold 10,540 shares of Flex stock. The stock was sold at an average price of $148.02, for a total value of $1,560,130.80.
- On Tuesday, May 26th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00.
- On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The shares were sold at an average price of $142.37, for a total value of $3,726,534.75.
Flex Stock Performance
Shares of Flex stock traded up $8.20 during trading on Monday, reaching $155.81. The company's stock had a trading volume of 7,414,337 shares, compared to its average volume of 8,906,334. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The business's fifty day moving average price is $125.25 and its 200-day moving average price is $85.91. The firm has a market cap of $57.09 billion, a price-to-earnings ratio of 66.87, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63. Flex Ltd. has a one year low of $45.31 and a one year high of $166.86.
Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, equities research analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.
Institutional Investors Weigh In On Flex
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Norges Bank bought a new stake in Flex in the fourth quarter valued at approximately $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Flex in the 4th quarter valued at $2,497,000. Sequoia Financial Advisors LLC grew its stake in Flex by 12.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company's stock valued at $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company's stock worth $20,566,000 after purchasing an additional 130,641 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. Zacks Research upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.70.
Read Our Latest Stock Report on Flex
About Flex
(
Get Free Report)
Flex NASDAQ: FLEX, formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.
Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.
Further Reading
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