Flex Ltd. (NASDAQ:FLEX) CFO Sells $933,087.33 in Stock

Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom sold 29,041 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $32.13, for a total transaction of $933,087.33. Following the sale, the chief financial officer now directly owns 316,130 shares in the company, valued at approximately $10,157,256.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paul Lundstrom also recently made the following trade(s):

• On Monday, June 10th, Paul Lundstrom sold 200,000 shares of Flex stock. The shares were sold at an average price of $32.46, for a total transaction of $6,492,000.00.
• On Tuesday, June 4th, Paul Lundstrom sold 13,725 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $446,474.25.
• On Thursday, May 9th, Paul Lundstrom sold 35,733 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45.

Flex Stock Performance

NASDAQ:FLEX opened at $31.26 on Friday. The firm has a 50 day simple moving average of $30.02 and a 200-day simple moving average of $28.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. The firm has a market cap of $12.56 billion, a PE ratio of 13.59, a P/E/G ratio of 2.14 and a beta of 1.13. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12.

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

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Troluce Capital Advisors LLC increased its position in Flex by 101.2% during the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after purchasing an additional 48,097,992 shares during the last quarter. Boston Partners increased its position in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after purchasing an additional 10,201,162 shares during the last quarter. Norges Bank acquired a new position in Flex during the fourth quarter worth approximately $165,000,000. Westfield Capital Management Co. LP acquired a new position in Flex during the first quarter worth approximately $51,543,000. Finally, Schonfeld Strategic Advisors LLC increased its position in Flex by 211.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock worth $38,032,000 after purchasing an additional 956,676 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FLEX. JPMorgan Chase & Co. upped their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Barclays upped their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target 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.