Insider Selling: Flex (NASDAQ:FLEX) Director Sells $265,020.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.51, for a total transaction of $265,020.00. Following the completion of the transaction, the director directly owned 9,512 shares in the company, valued at $1,260,435.12. The trade was a 17.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Erin Mcsweeney also recently made the following trade(s):

• On Thursday, May 14th, Erin Mcsweeney sold 3,000 shares of Flex stock. The shares were sold at an average price of $145.88, for a total transaction of $437,640.00.
• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The shares were sold at an average price of $136.59, for a total transaction of $341,475.00.

Flex Price Performance

Shares of FLEX opened at $144.85 on Friday. The firm has a market capitalization of $53.07 billion, a PE ratio of 62.17, a PEG ratio of 0.77 and a beta of 1.46. The company’s 50-day moving average is $96.84 and its 200-day moving average is $74.89. Flex Ltd. has a fifty-two week low of $41.43 and a fifty-two week high of $147.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The company had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. Equities analysts forecast that Flex Ltd. will post 4.15 EPS for the current year.

Hedge Funds Weigh In On Flex

Several hedge funds have recently bought and sold shares of FLEX. USA Financial Formulas bought a new position in Flex in the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new position in Flex in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust increased its holdings 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 buying an additional 166 shares during the period. CENTRAL TRUST Co increased its holdings 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 buying an additional 355 shares during the period. Finally, Gables Capital Management Inc. bought a new position in Flex in the 4th quarter valued at about $42,000. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of 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 raised their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Raymond James Financial set a $80.00 price target on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. KeyCorp raised their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of 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 issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and a consensus target price 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.