Flex Ltd. (NASDAQ:FLEX) Director Sells $587,160.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.94, for a total value of $587,160.00. Following the transaction, the director now owns 22,299 shares of the company’s stock, valued at $935,220.06. This represents a 38.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Flex Stock Up 0.2%

Shares of Flex stock opened at $42.02 on Monday. The business’s fifty day moving average price is $34.29 and its two-hundred day moving average price is $37.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $16.10 billion, a P/E ratio of 16.94, a PEG ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on FLEX. KeyCorp boosted their price objective on Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Barclays boosted their price objective on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group cut their target price on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Institutional Trading of Flex

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners boosted its holdings in Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after buying an additional 569,916 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock worth $719,232,000 after buying an additional 996,276 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock worth $472,155,000 after buying an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company’s stock worth $326,833,000 after purchasing an additional 916,085 shares during the period. Finally, Invesco Ltd. raised its position in shares of Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock worth $276,652,000 after purchasing an additional 2,968,285 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.