Insider Selling: Flex (NASDAQ:FLEX) EVP Sells 33,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares in the company, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Scott Offer also recently made the following trade(s):

• On Monday, May 11th, David Scott Offer sold 22,212 shares of Flex stock. The stock was sold at an average price of $142.40, for a total value of $3,162,988.80.

Flex Stock Down 4.8%

Shares of NASDAQ FLEX traded down $7.59 during mid-day trading on Friday, reaching $151.92. 5,368,299 shares of the company’s stock were exchanged, compared to its average volume of 6,173,585. The business has a fifty day simple moving average of $107.57 and a 200 day simple moving average of $78.73. Flex Ltd. has a twelve month low of $42.60 and a twelve month high of $166.86. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 0.84 and a beta of 1.64. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FLEX shares. KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 target price on Flex in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

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.