Insider Selling: Flex Ltd. (NASDAQ:FLEX) EVP Sells $220,258.10 in Stock

Flex Ltd. (NASDAQ:FLEXGet Free Report) EVP David Scott Offer sold 7,037 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $220,258.10. Following the completion of the sale, the executive vice president now owns 171,344 shares of the company’s stock, valued at approximately $5,363,067.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Scott Offer also recently made the following trade(s):

  • On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The shares were sold at an average price of $32.20, for a total transaction of $356,003.20.
  • On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $369,345.62.
  • On Thursday, May 9th, David Scott Offer sold 34,097 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $976,879.05.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $30.61 on Friday. The company has a market cap of $12.29 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.13. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12. 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 company has a 50-day simple moving average of $30.22 and a 200-day simple moving average of $28.14.

Flex (NASDAQ:FLEXGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping 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 the consensus estimate of $6.10 billion. On average, equities analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On Flex

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLEX. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group raised their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Barclays raised their target price on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and dropped their target price for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.83.

View Our Latest Research Report on FLEX

About Flex

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Flex (NASDAQ:FLEX)

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