Flex (NASDAQ:FLEX) COO Sells $2,378,775.00 in Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00. Following the sale, the chief operating officer directly owned 238,543 shares in the company, valued at $32,425,149.99. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The shares were sold at an average price of $142.37, for a total value of $3,726,534.75.
• On Monday, March 9th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00.

Flex Price Performance

Shares of FLEX traded up $10.77 on Tuesday, hitting $143.24. The company’s stock had a trading volume of 5,439,082 shares, compared to its average volume of 6,676,761. The company has a market capitalization of $52.48 billion, a PE ratio of 61.48, a PEG ratio of 0.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a fifty-two week low of $41.43 and a fifty-two week high of $147.34. The company has a 50 day moving average price of $93.62 and a 200 day moving average price of $73.73.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The business had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, research analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLEX. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Raymond James Financial set a $80.00 target price on Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Barclays upped their price objective on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.80.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLEX. Vanguard Group Inc. raised its position in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Flex by 17.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock valued at $138,749,000 after acquiring an additional 360,553 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Flex during the 4th quarter valued at $2,497,000. Nordea Investment Management AB bought a new stake in shares of Flex during the 4th quarter valued at $2,056,000. Finally, Winnow Wealth LLC bought a new stake in shares of Flex during the 3rd quarter valued at $1,058,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Company Profile

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.