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

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

Shares of NASDAQ:FLEX traded up $0.32 during trading on Monday, reaching $46.35. 2,758,406 shares of the company's stock traded hands, compared to its average volume of 3,883,223. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $47.60. The company has a 50-day simple moving average of $39.44 and a 200-day simple moving average of $38.52. The firm has a market cap of $17.30 billion, a PE ratio of 21.86, a P/E/G ratio of 1.71 and a beta of 1.04.

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, beating the consensus estimate of $0.69 by $0.04. Flex had a return on equity of 19.01% and a net margin of 3.25%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period last year, the company earned $0.57 earnings per share. Flex's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Institutional Trading of Flex

Several institutional investors have recently modified their holdings of FLEX. Boston Partners increased its position in shares of Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after purchasing an additional 569,916 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Flex by 4.8% during 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 in the last quarter. Vanguard Group Inc. raised its position 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Flex by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock worth $326,833,000 after buying an additional 916,085 shares in the last quarter. Finally, Invesco Ltd. boosted its position in 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 acquiring an additional 2,968,285 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on FLEX shares. JPMorgan Chase & Co. decreased their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays raised their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Bank of America lifted their price objective on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, KeyCorp restated an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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.