Flex Ltd. (NASDAQ:FLEX) Insider Sells $255,129.84 in Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now owns 175,468 shares in the company, valued at approximately $5,576,373.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 17th, Kwang Hooi Tan sold 13,451 shares of Flex stock. The shares were sold at an average price of $31.30, for a total transaction of $421,016.30.
• On Tuesday, June 4th, Kwang Hooi Tan sold 12,626 shares of Flex stock. The shares were sold at an average price of $32.53, for a total value of $410,723.78.
• On Thursday, May 9th, Kwang Hooi Tan sold 14,599 shares of Flex stock. The shares were sold at an average price of $28.65, for a total value of $418,261.35.
• On Tuesday, May 7th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The shares were sold at an average price of $29.29, for a total value of $235,110.83.

Flex Stock Performance

Shares of Flex stock opened at $32.15 on Thursday. The business has a 50-day moving average price of $31.22 and a two-hundred day moving average price of $28.80. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a market cap of $12.77 billion, a P/E ratio of 13.98, a PEG ratio of 2.11 and a beta of 1.12.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a return on equity of 15.53% and a net margin of 3.54%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. As a group, analysts anticipate that Flex Ltd. will post 2.09 EPS for the current year.

Institutional Trading of Flex

Several large investors have recently modified their holdings of FLEX. Richardson Financial Services Inc. bought a new position in Flex during the fourth quarter worth $34,000. American Capital Advisory LLC acquired a new position in shares of Flex during the second quarter valued at about $46,000. CWM LLC boosted its position in shares of 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 in the last quarter. Fifth Third Bancorp grew its stake in shares of Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after buying an additional 1,455 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Flex in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays increased their price objective on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Craig Hallum raised Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.40.

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.