Flex Ltd (NASDAQ:FLEX) EVP David Scott Offer sold 48,262 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.39, for a total transaction of $549,704.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ FLEX traded up $0.08 during mid-day trading on Wednesday, reaching $11.44. The company had a trading volume of 7,148,673 shares, compared to its average volume of 5,872,584. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $11.50 and a two-hundred day simple moving average of $10.34. The stock has a market cap of $5.82 billion, a P/E ratio of 63.56, a PEG ratio of 2.21 and a beta of 1.84. Flex Ltd has a 52-week low of $7.16 and a 52-week high of $12.54.
Flex (NASDAQ:FLEX) last posted its earnings results on Thursday, October 24th. The technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.39. The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $6.29 billion. Flex had a negative net margin of 0.71% and a negative return on equity of 6.13%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. On average, equities analysts expect that Flex Ltd will post 0.35 EPS for the current year.
FLEX has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. BidaskClub raised shares of Flex from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Zacks Investment Research raised shares of Flex from a “strong sell” rating to a “hold” rating and set a $8.75 price objective on the stock in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.58.
Several hedge funds and other institutional investors have recently bought and sold shares of FLEX. Robeco Institutional Asset Management B.V. grew its position in shares of Flex by 74.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 102,131 shares of the technology company’s stock valued at $977,000 after buying an additional 43,631 shares during the last quarter. World Asset Management Inc grew its position in shares of Flex by 6.4% in the 2nd quarter. World Asset Management Inc now owns 25,567 shares of the technology company’s stock valued at $245,000 after buying an additional 1,536 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Flex in the 2nd quarter valued at $866,000. Shine Investment Advisory Services Inc. boosted its stake in Flex by 33.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 4,071 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,024 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Flex during the 2nd quarter worth $25,000. 93.71% of the stock is currently owned by hedge funds and other institutional investors.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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