Flex Ltd. (NASDAQ:FLEX) Insider Sells $421,016.30 in Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 13,451 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $421,016.30. Following the transaction, the insider now directly owns 183,496 shares in the company, valued at approximately $5,743,424.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Kwang Hooi Tan also recently made the following trade(s):

• On Tuesday, June 4th, Kwang Hooi Tan sold 12,626 shares of Flex stock. The shares were sold at an average price of $32.53, for a total value of $410,723.78.
• On Thursday, May 9th, Kwang Hooi Tan sold 14,599 shares of Flex stock. The shares were sold at an average price of $28.65, for a total value of $418,261.35.
• On Tuesday, May 7th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The stock was sold at an average price of $29.29, for a total value of $235,110.83.

Flex Trading Up 0.1 %

NASDAQ FLEX traded up $0.04 on Tuesday, hitting $31.62. The company’s stock had a trading volume of 4,453,362 shares, compared to its average volume of 4,776,145. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $30.13 and its 200 day simple moving average is $28.09. The firm has a market cap of $12.70 billion, a P/E ratio of 13.75, a PEG ratio of 2.09 and a beta of 1.13.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Research analysts predict that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in Flex during the 4th quarter valued at approximately $34,000. CWM LLC raised its stake in Flex by 92.5% during the fourth 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 raised its stake in Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after buying an additional 1,455 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Flex in the fourth quarter worth $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Flex in the fourth quarter worth $77,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group upped their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays upped their price objective on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Craig Hallum cut Flex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $28.00 to $27.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

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.