Flex (NASDAQ:FLEX) CEO Sells $11,094,645.00 in Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the transaction, the chief executive officer directly owned 605,522 shares in the company, valued at approximately $80,455,708.14. This represents a 12.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Revathi Advaithi also recently made the following trade(s):

• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The stock was sold at an average price of $142.37, for a total value of $16,242,993.30.

Flex Stock Performance

NASDAQ:FLEX traded up $10.77 during trading hours on Tuesday, reaching $143.24. 5,439,082 shares of the stock were exchanged, compared to its average volume of 6,676,761. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $93.62 and a 200-day simple moving average of $73.73. The stock has a market capitalization of $52.48 billion, a P/E ratio of 61.48, a P/E/G ratio of 0.70 and a beta of 1.46. Flex Ltd. has a 52 week low of $41.43 and a 52 week high of $147.34.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The business had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Institutional Trading of Flex

Large investors have recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in Flex in the 4th quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its position in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the period. CENTRAL TRUST Co increased its position in Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after acquiring an additional 355 shares during the period. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the 4th quarter valued at approximately $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FLEX. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Raymond James Financial set a $80.00 price target on Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus increased their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.80.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.