Flex Ltd. (NASDAQ:FLEX) Insider Kwang Hooi Tan Sells 8,027 Shares

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $29.29, for a total value of $235,110.83. Following the sale, the insider now owns 151,691 shares in the company, valued at $4,443,029.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 Wednesday, March 13th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The shares were sold at an average price of $28.81, for a total value of $231,257.87.

Flex Trading Up 1.0 %

NASDAQ:FLEX traded up $0.28 on Friday, hitting $28.99. The stock had a trading volume of 210,990 shares, compared to its average volume of 4,971,973. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $28.54 and a two-hundred day moving average price of $26.94. Flex Ltd. has a 1-year low of $21.58 and a 1-year high of $30.93.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Flex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ardsley Advisory Partners LP increased its holdings in Flex by 11.5% in the 3rd quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock valued at $10,617,000 after purchasing an additional 40,500 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Flex during the 4th quarter worth about $2,909,000. abrdn plc boosted its holdings in Flex by 106.0% during the 4th quarter. abrdn plc now owns 146,524 shares of the technology company’s stock valued at $4,463,000 after acquiring an additional 75,387 shares during the period. Vontobel Holding Ltd. increased its stake in Flex by 21.8% during the fourth quarter. Vontobel Holding Ltd. now owns 201,902 shares of the technology company’s stock worth $6,150,000 after purchasing an additional 36,082 shares during the period. Finally, Legal & General Group Plc grew its stake in Flex by 9.3% during the 3rd quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock worth $61,836,000 after purchasing an additional 195,447 shares in the last quarter. 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.