Kwang Hooi Tan Sells 12,500 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) COO Kwang Hooi Tan sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.07, for a total value of $525,875.00. Following the completion of the transaction, the chief operating officer now owns 249,813 shares of the company's stock, valued at approximately $10,509,632.91. The trade was a 4.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kwang Hooi Tan also recently made the following trade(s):

• On Wednesday, June 4th, Kwang Hooi Tan sold 37,533 shares of Flex stock. The shares were sold at an average price of $42.87, for a total value of $1,609,039.71.
• On Tuesday, June 3rd, Kwang Hooi Tan sold 12,259 shares of Flex stock. The shares were sold at an average price of $42.90, for a total value of $525,911.10.
• On Tuesday, May 13th, Kwang Hooi Tan sold 34,335 shares of Flex stock. The shares were sold at an average price of $41.99, for a total value of $1,441,726.65.

Flex Stock Performance

NASDAQ:FLEX traded down $0.45 during mid-day trading on Wednesday, reaching $42.77. The company's stock had a trading volume of 2,612,486 shares, compared to its average volume of 3,883,336. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10. The firm's fifty day moving average price is $36.06 and its two-hundred day moving average price is $38.12. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market cap of $15.97 billion, a P/E ratio of 17.25, a PEG ratio of 2.43 and a beta of 1.04.

Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners increased its position in shares of Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock valued at $1,006,436,000 after purchasing an additional 569,916 shares during the last quarter. Wellington Management Group LLP increased its stake in Flex by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after buying an additional 996,276 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock worth $472,155,000 after purchasing an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock worth $326,833,000 after purchasing an additional 916,085 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after purchasing an additional 2,968,285 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price for the company. The Goldman Sachs Group lowered their target price on shares of 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. lowered their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, KeyCorp lifted their price objective on Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus 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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