Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi Sells 25,593 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 25,593 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $43.48, for a total value of $1,112,783.64. Following the sale, the chief executive officer now directly owns 1,400,777 shares in the company, valued at approximately $60,905,783.96. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, June 12th, Revathi Advaithi sold 132,000 shares of Flex stock. The stock was sold at an average price of $43.70, for a total value of $5,768,400.00.
• On Thursday, June 5th, Revathi Advaithi sold 181,028 shares of Flex stock. The stock was sold at an average price of $42.91, for a total value of $7,767,911.48.
• On Tuesday, June 3rd, Revathi Advaithi sold 59,150 shares of Flex stock. The stock was sold at an average price of $42.90, for a total value of $2,537,535.00.
• On Tuesday, May 13th, Revathi Advaithi sold 164,700 shares of Flex stock. The stock was sold at an average price of $41.99, for a total value of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The stock was sold at an average price of $38.09, for a total value of $4,581,465.20.

Flex Stock Down 1.0%

FLEX stock opened at $43.13 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $37.88 and a two-hundred day moving average price of $38.30. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.43 and a beta of 1.04. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of recent research reports. Bank of America lifted their target price on Flex from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 9th. The Goldman Sachs Group cut their price objective on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Barclays boosted their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flex has a consensus rating of “Buy” and an average price target of $46.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Evergreen Capital Management LLC boosted its stake in shares of Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock worth $925,000 after acquiring an additional 246 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Flex by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after purchasing an additional 266 shares during the period. Dynasty Wealth Management LLC boosted its stake in Flex by 0.7% in the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company’s stock valued at $1,232,000 after purchasing an additional 276 shares during the period. WealthTrust Axiom LLC boosted its stake in Flex by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company’s stock valued at $566,000 after purchasing an additional 300 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Flex by 30.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company’s stock valued at $43,000 after purchasing an additional 306 shares during the period. 94.30% of the stock is currently owned by institutional investors.

About Flex

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.