David Scott Offer Sells 6,369 Shares of Flex Ltd (NASDAQ:FLEX) Stock

Flex Ltd (NASDAQ:FLEX) EVP David Scott Offer sold 6,369 shares of Flex stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $9.56, for a total value of $60,887.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flex stock opened at $9.31 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 1.20. Flex Ltd has a 1-year low of $6.74 and a 1-year high of $15.38. The stock has a market capitalization of $4.85 billion, a P/E ratio of 51.72, a PEG ratio of 0.59 and a beta of 1.85. The company has a 50 day simple moving average of $9.66.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Flex had a return on equity of 3.03% and a net margin of 0.36%. Flex’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. Research analysts expect that Flex Ltd will post 0.98 EPS for the current fiscal year.

A number of research firms recently weighed in on FLEX. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Investment Research downgraded Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upgraded Flex from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Wednesday, May 29th. Goldman Sachs Group upgraded Flex from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, June 6th. Finally, ValuEngine downgraded Flex from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Flex during the fourth quarter worth $38,403,000. Comerica Bank raised its holdings in Flex by 43.0% during the fourth quarter. Comerica Bank now owns 52,154 shares of the technology company’s stock worth $463,000 after purchasing an additional 15,678 shares during the last quarter. United Services Automobile Association raised its holdings in Flex by 46.7% during the fourth quarter. United Services Automobile Association now owns 2,217,152 shares of the technology company’s stock worth $16,873,000 after purchasing an additional 705,875 shares during the last quarter. Legal & General Group Plc raised its holdings in Flex by 6.8% during the fourth quarter. Legal & General Group Plc now owns 2,711,534 shares of the technology company’s stock worth $20,635,000 after purchasing an additional 173,500 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in Flex during the fourth quarter worth $28,980,000. 94.47% of the stock is owned by hedge funds and other institutional investors.

Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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Insider Buying and Selling by Quarter for Flex (NASDAQ:FLEX)

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