Flex (NASDAQ:FLEX) Director Charles Stevens III Sells 15,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles Stevens III sold 15,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares of the company’s stock, valued at approximately $6,275,147.64. The trade was a 24.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Flex Stock Up 6.9%

Shares of NASDAQ:FLEX opened at $142.17 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12 month low of $38.30 and a 12 month high of $142.59. The company has a 50-day moving average price of $74.45 and a 200 day moving average price of $67.03. The company has a market cap of $52.27 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 2.86 and a beta of 1.46.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, equities research analysts predict that Flex Ltd. will post 3.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. KeyCorp increased their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird set a $165.00 price objective on shares of Flex in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Stifel Nicolaus increased their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Raymond James Financial set a $80.00 price objective on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and an average price target of $112.80.

Institutional Trading of Flex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLEX. JSF Financial LLC grew its stake in Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 115 shares in the last quarter. Glenview Trust Co grew its stake in Flex by 3.4% in the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after acquiring an additional 125 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after acquiring an additional 163 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after acquiring an additional 166 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after acquiring an additional 178 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.