Daniel Wendler Sells 1,579 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,579 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $147.64, for a total value of $233,123.56. Following the completion of the transaction, the chief accounting officer directly owned 33,417 shares of the company’s stock, valued at $4,933,685.88. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Daniel Wendler also recently made the following trade(s):

• On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The shares were sold at an average price of $142.39, for a total value of $543,787.41.

Flex Stock Performance

Shares of FLEX opened at $147.61 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a market capitalization of $54.08 billion, a price-to-earnings ratio of 63.35, a price-to-earnings-growth ratio of 0.75 and a beta of 1.64. Flex Ltd. has a 52-week low of $45.31 and a 52-week high of $166.86. The stock’s 50-day simple moving average is $122.15 and its 200 day simple moving average is $84.57.

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. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion for the quarter. Research analysts forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Flex

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. Norges Bank purchased a new position in Flex in the 4th quarter worth $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Flex in the fourth quarter worth $2,497,000. Sequoia Financial Advisors LLC boosted its position in Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after buying an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after buying an additional 130,641 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on FLEX shares. Stifel Nicolaus raised their price target on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. The Goldman Sachs Group boosted their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, KeyCorp raised their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

Flex News Summary

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and recent price-target increases supporting the longer-term outlook. Flex stock page
• Positive Sentiment: Flex’s latest quarter showed solid operating performance, with $0.93 EPS and $7.48 billion in revenue, reinforcing confidence in the business. Flex stock page
• Neutral Sentiment: Several insider sales were disclosed, but the company said they were primarily tied to tax withholding on vested equity awards and, in one case, a 10b5-1 plan. SEC filing
• Negative Sentiment: The concentration of insider selling across senior leadership may still create short-term caution among investors, even if the transactions were routine. SEC filing

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.