Kwang Hooi Tan Sells 10,540 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 10,540 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the sale, the chief operating officer owned 235,602 shares in the company, valued at $34,873,808.04. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kwang Hooi Tan also recently made the following trade(s):

• On Tuesday, May 26th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The shares were sold at an average price of $135.93, for a total transaction of $2,378,775.00.
• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The stock was sold at an average price of $142.37, for a total transaction of $3,726,534.75.

Flex Price Performance

Shares of NASDAQ FLEX opened at $147.61 on Friday. The company has a fifty day moving average price of $122.15 and a 200 day moving average price of $84.57. The firm has a market cap of $54.08 billion, a PE ratio of 63.35, a PEG ratio of 0.75 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 Ltd. has a 1-year low of $45.31 and a 1-year high of $166.86.

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

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

Institutional Trading of Flex

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Flex by 9.3% during the 1st quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after purchasing an additional 109,992 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in Flex during the first quarter worth about $4,949,000. Segall Bryant & Hamill LLC bought a new position in Flex during the first quarter worth about $446,000. Western Wealth Management LLC acquired a new position in Flex during the first quarter worth approximately $65,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Flex in the first quarter valued at approximately $5,891,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Robert W. Baird set a $165.00 price objective on shares of Flex in a research note on Thursday, May 7th. Finally, Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.