Revathi Advaithi Sells 37,465 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CEO Revathi Advaithi sold 37,465 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $1,686,299.65. Following the completion of the transaction, the chief executive officer now owns 1,363,312 shares of the company's stock, valued at approximately $61,362,673.12. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, June 13th, Revathi Advaithi sold 25,593 shares of Flex stock. The shares were sold at an average price of $43.48, for a total transaction of $1,112,783.64.
• On Thursday, June 12th, Revathi Advaithi sold 132,000 shares of Flex stock. The stock was sold at an average price of $43.70, for a total transaction of $5,768,400.00.
• 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 stock was sold at an average price of $41.99, for a total value of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The shares were sold at an average price of $38.09, for a total value of $4,581,465.20.

Flex Trading Down 0.3%

FLEX traded down $0.15 during mid-day trading on Friday, reaching $46.03. The stock had a trading volume of 6,065,247 shares, compared to its average volume of 3,895,884. The stock has a market capitalization of $17.18 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.71 and a beta of 1.04. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $46.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 1.30. The firm's fifty day simple moving average is $39.44 and its two-hundred day simple moving average is $38.53.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a return on equity of 19.01% and a net margin of 3.25%. During the same period last year, the company earned $0.57 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. On average, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in Flex during the 1st quarter worth $25,000. Olde Wealth Management LLC bought a new position in shares of Flex in the 1st quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Flex during the first quarter worth $26,000. CX Institutional bought a new stake in Flex in the first quarter valued at about $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex in the fourth quarter valued at about $35,000. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Bank of America increased their price target on Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Barclays lifted their price objective on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $46.00.

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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