Paul Lundstrom Sells 35,733 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom sold 35,733 shares of Flex stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $1,023,750.45. Following the completion of the transaction, the chief financial officer now owns 507,752 shares of the company’s stock, valued at approximately $14,547,094.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Flex Stock Up 0.5 %

Flex stock traded up $0.15 during mid-day trading on Thursday, reaching $28.71. 2,721,140 shares of the company were exchanged, compared to its average volume of 5,025,926. The business has a fifty day moving average of $28.54 and a 200 day moving average of $26.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The firm has a market cap of $12.09 billion, a P/E ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18. Flex Ltd. has a 12-month low of $20.83 and a 12-month high of $30.93.

Analyst Ratings Changes

Several research analysts have issued reports on FLEX shares. The Goldman Sachs Group boosted their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Barclays boosted their target price on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com started coverage on Flex in a research report on Wednesday, March 6th. They set a “hold” rating for the company. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and dropped their target price for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.83.

Hedge Funds Weigh In On Flex

A number of large investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC acquired a new position in shares of Flex in the 3rd quarter valued at $30,000. Richardson Financial Services Inc. acquired a new position in shares of Flex in the 4th quarter valued at $34,000. CWM LLC grew its position in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after purchasing an additional 773 shares during the period. Fifth Third Bancorp grew its position in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in Flex during the 4th quarter worth about $75,000. 94.30% of the stock is owned by institutional investors and hedge funds.

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.