Michael P. Hartung Sells 4,554 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) insider Michael P. Hartung sold 4,554 shares of Flex stock in a transaction on Friday, June 13th. The shares were sold at an average price of $43.49, for a total value of $198,053.46. Following the transaction, the insider now owns 310,605 shares of the company's stock, valued at $13,508,211.45. The trade was a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Flex Stock Performance

Shares of FLEX traded down $0.44 during trading hours on Friday, hitting $43.13. The stock had a trading volume of 3,086,566 shares, compared to its average volume of 3,881,059. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The firm has a market capitalization of $16.10 billion, a PE ratio of 17.39, a PEG ratio of 2.43 and a beta of 1.04. The stock has a fifty day moving average price of $37.88 and a 200 day moving average price of $38.30.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Flex's revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Institutional Trading of Flex

Several hedge funds have recently bought and sold shares of the stock. Boston Partners grew its holdings in Flex by 2.2% during the fourth 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 period. Wellington Management Group LLP grew its holdings in Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock valued at $719,232,000 after purchasing an additional 996,276 shares during the period. Vanguard Group Inc. grew its holdings in Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after purchasing an additional 817,215 shares during the period. Dimensional Fund Advisors LP grew its holdings in Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after purchasing an additional 916,085 shares during the period. Finally, Invesco Ltd. grew its holdings in Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after purchasing an additional 2,968,285 shares during the period. Institutional investors own 94.30% of the company's stock.

Analysts Set New Price Targets

FLEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced 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. KeyCorp reissued an "overweight" rating on shares of Flex in a report on Tuesday, June 3rd. Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Finally, Bank of America lifted their target price on Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flex presently has an average rating of "Buy" and an average price target of $46.00.

About Flex

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.