Kwang Hooi Tan Sells 37,533 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) COO Kwang Hooi Tan sold 37,533 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,609,039.71. Following the transaction, the chief operating officer now owns 269,151 shares in the company, valued at $11,538,503.37. The trade was a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 Monday, June 2nd, Kwang Hooi Tan sold 12,500 shares of Flex stock. The shares were sold at an average price of $42.07, for a total value of $525,875.00.
• 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 Trading Down 1.0%

Shares of FLEX stock traded down $0.45 during trading hours on Wednesday, hitting $42.77. The company had a trading volume of 2,612,486 shares, compared to its average volume of 3,883,336. The company's fifty day moving average is $36.06 and its 200 day moving average is $38.12. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week 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 stock has a market capitalization of $15.97 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. Research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group dropped their target price on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Barclays lifted their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Six investment 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, Flex has a consensus rating of "Buy" and a consensus target price of $45.33.

Institutional Investors Weigh In On Flex

Hedge funds have recently bought and sold shares of the stock. Invst LLC acquired a new stake in shares of Flex in the 1st quarter valued at $615,000. Advisors Capital Management LLC increased its position in Flex by 8.4% in the 1st quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company's stock valued at $252,000 after acquiring an additional 589 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Flex in the first quarter valued at approximately $66,000. Bayforest Capital Ltd increased its holdings in shares of Flex by 369.9% in the first quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company's stock valued at $480,000 after purchasing an additional 11,431 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Flex by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock valued at $103,714,000 after purchasing an additional 453,455 shares during the period. Institutional investors and hedge funds 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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