Flex (NASDAQ:FLEX) EVP Sells $3,162,988.80 in Stock

Key Points

• Flex EVP David Scott Offer sold 22,212 shares at an average price of $142.40, totaling about $3.16 million. The filing says the sale was made to cover tax withholding tied to vested equity awards.
• Flex reported stronger-than-expected quarterly results, posting $0.93 EPS versus the $0.87 consensus and revenue of $7.48 billion versus expectations of $6.96 billion. Revenue rose 17.2% year over year.
• Analysts have turned notably more bullish on Flex, with Goldman Sachs and Barclays both sharply raising price targets and assigning buy/overweight ratings. The stock now carries a consensus rating of “Moderate Buy” with an average target price of $112.80.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 22,212 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.40, for a total transaction of $3,162,988.80. Following the completion of the transaction, the executive vice president directly owned 74,926 shares in the company, valued at approximately $10,669,462.40. The trade was a 22.87% decrease in their position. The transaction was disclosed in a legal 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.

Flex Stock Performance

NASDAQ FLEX traded down $5.38 on Tuesday, reaching $139.69. 8,013,787 shares of the stock were exchanged, compared to its average volume of 5,686,091. Flex Ltd. has a one year low of $40.15 and a one year high of $145.40. The firm has a market capitalization of $51.36 billion, a PE ratio of 59.95 and a beta of 1.46. The company's 50-day simple moving average is $79.15 and its two-hundred day simple moving average is $68.72. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.06. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.96 billion. During the same quarter last year, the business earned $0.73 EPS. The firm's revenue was up 17.2% compared to the same quarter last year. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. Analysts expect that Flex Ltd. will post 3.31 EPS for the current fiscal year.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex CEO is publicly leaning into AI as a major growth driver, signaling that the company sees meaningful demand ahead from AI infrastructure and related hardware spending. Flex CEO bets big on AI
• Positive Sentiment: Reports that Flex may spin off its AI data center business suggest management could unlock value by separating a fast-growing segment from the rest of the company. Flex stock is surging. A planned AI data center spinoff could take it even higher.
• Neutral Sentiment: Short-interest data from mid-May appears unreliable or incomplete, so it does not provide a clear new signal for the stock.
• Neutral Sentiment: Broader commentary from other AI leaders and investors reinforces the strength of the AI theme, but it is indirect and not specific to Flex’s fundamentals. AMD CEO Lisa Su Says CPUs Will Match GPUs 1-to-1 in AI's Next Phase

Analyst Ratings Changes

Several research firms have recently issued reports on FLEX. The Goldman Sachs Group lifted their price objective on shares of Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Barclays lifted their price objective on shares of Flex from $72.00 to $174.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Finally, Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an "outperform" rating in a report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Vanguard Group Inc. boosted its stake in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the period. Norges Bank purchased a new position in Flex during the fourth quarter worth $319,756,000. State Street Corp boosted its stake in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after buying an additional 3,377,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Flex by 694,916.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company's stock worth $159,573,000 after buying an additional 2,640,682 shares during the period. Finally, Polar Capital Holdings Plc boosted its stake in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company's stock worth $223,140,000 after buying an additional 2,165,780 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

About Flex

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.

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