Flex Ltd. (NASDAQ:FLEX) EVP Sells $329,500.00 in Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 23rd, David Scott Offer sold 10,000 shares of Flex stock. The shares were sold at an average price of $31.99, for a total value of $319,900.00.
• On Monday, June 17th, David Scott Offer sold 7,037 shares of Flex stock. The stock was sold at an average price of $31.30, for a total value of $220,258.10.
• On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The stock was sold at an average price of $32.20, for a total value of $356,003.20.
• On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The shares were sold at an average price of $32.53, for a total value of $369,345.62.

Flex Price Performance

Shares of FLEX stock traded down $0.48 during trading hours on Monday, hitting $32.45. 1,457,880 shares of the company’s stock were exchanged, compared to its average volume of 4,295,657. The company has a current ratio of 1.40, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a market capitalization of $12.94 billion, a PE ratio of 14.11, a PEG ratio of 2.03 and a beta of 1.12. The business’s 50 day simple moving average is $30.44 and its 200-day simple moving average is $29.71.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Flex had a net margin of 3.54% and a return on equity of 16.23%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. On average, equities research analysts anticipate that Flex Ltd. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

FLEX has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Barclays increased their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $38.40.

Institutional Investors Weigh In On Flex

Large investors have recently modified their holdings of the business. Richardson Financial Services Inc. acquired a new position in Flex during the fourth quarter worth $34,000. Quarry LP acquired a new stake in shares of Flex in the second quarter valued at $43,000. American Capital Advisory LLC purchased a new position in Flex in the second quarter worth approximately $46,000. CWM LLC lifted its stake in Flex by 92.5% during the fourth 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 last quarter. Finally, J.Safra Asset Management Corp increased its position in Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after buying an additional 2,538 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.