Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi Sells 161,052 Shares

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 161,052 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,404 shares in the company, valued at $54,532,524.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Flex Trading Up 0.5 %

Flex stock traded up $0.15 during mid-day trading on Thursday, hitting $28.71. 2,721,140 shares of the stock were exchanged, compared to its average volume of 5,025,926. The firm’s fifty day simple moving average is $28.54 and its two-hundred day simple moving average is $26.94. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12 month low of $20.83 and a 12 month high of $30.93. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18.

Hedge Funds Weigh In On Flex

Hedge funds have recently bought and sold shares of the company. Cornerstone Planning Group LLC bought a new stake in Flex during the 3rd quarter worth approximately $30,000. Richardson Financial Services Inc. bought a new stake in Flex during the fourth quarter worth $34,000. CWM LLC raised its position in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares during the last quarter. Fifth Third Bancorp lifted its stake in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,455 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in Flex during the 4th quarter worth $75,000. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLEX. StockNews.com began coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating for the company. Barclays boosted their price objective on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group upped their price objective on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $27.00 in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

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.