Insider Selling: Flex Ltd. (NASDAQ:FLEX) CEO Sells 132,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CEO Revathi Advaithi sold 132,000 shares of Flex stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $43.70, for a total transaction of $5,768,400.00. Following the transaction, the chief executive officer now owns 1,331,695 shares of the company's stock, valued at approximately $58,195,071.50. The trade was a 9.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Revathi Advaithi also recently made the following trade(s):

• On Friday, June 13th, Revathi Advaithi sold 25,593 shares of Flex stock. The stock was sold at an average price of $43.48, for a total value of $1,112,783.64.
• On Thursday, June 5th, Revathi Advaithi sold 181,028 shares of Flex stock. The shares were sold at an average price of $42.91, for a total value of $7,767,911.48.
• On Tuesday, June 3rd, Revathi Advaithi sold 59,150 shares of Flex stock. The stock was sold at an average price of $42.90, for a total value of $2,537,535.00.
• On Tuesday, May 13th, Revathi Advaithi sold 164,700 shares of Flex stock. The shares were sold at an average price of $41.99, for a total transaction of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The stock was sold at an average price of $38.09, for a total transaction of $4,581,465.20.

Flex Trading Down 1.0%

FLEX stock traded down $0.44 during trading on Friday, reaching $43.13. 3,086,566 shares of the stock traded hands, compared to its average volume of 3,877,006. The firm has a market capitalization of $16.10 billion, a PE ratio of 17.39, a P/E/G ratio of 2.43 and a beta of 1.04. 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 business's 50 day moving average price is $37.88 and its 200-day moving average price is $38.30. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group dropped their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flex has a consensus rating of "Buy" and a consensus price target of $46.00.

Institutional Investors Weigh In On Flex

Several large investors have recently made changes to their positions in the business. Boston Partners increased its holdings in Flex by 2.2% in 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Flex by 4.8% in the first 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 during the period. Vanguard Group Inc. grew its stake in shares of Flex by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after buying an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flex by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after buying an additional 916,085 shares during the period. Finally, Invesco Ltd. lifted its position in Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after acquiring an additional 2,968,285 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

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.