Insider Selling: Flex (NASDAQ:FLEX) EVP Sells 18,750 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 18,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $147.91, for a total value of $2,773,312.50. Following the completion of the sale, the executive vice president owned 54,721 shares of the company’s stock, valued at $8,093,783.11. The trade was a 25.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 15th, David Scott Offer sold 7,223 shares of Flex stock. The shares were sold at an average price of $148.01, for a total value of $1,069,076.23.
• On Friday, June 5th, David Scott Offer sold 33,000 shares of Flex stock. The shares were sold at an average price of $153.91, for a total value of $5,079,030.00.
• On Monday, May 11th, David Scott Offer sold 22,212 shares of Flex stock. The shares were sold at an average price of $142.40, for a total value of $3,162,988.80.

Flex Trading Down 2.6%

FLEX stock traded down $3.80 during midday trading on Wednesday, hitting $143.13. The company had a trading volume of 7,319,362 shares, compared to its average volume of 5,230,561. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 52 week low of $45.31 and a 52 week high of $166.86. The stock’s 50 day moving average price is $120.56 and its 200 day moving average price is $83.95. The stock has a market cap of $52.44 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 0.77 and a beta of 1.64.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion during the quarter. As a group, equities research analysts expect that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flex

Several hedge funds have recently added to or reduced their stakes in the stock. JSF Financial LLC boosted its holdings in Flex by 0.6% in the first 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 boosted its holdings in Flex by 3.4% in the first 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 boosted its holdings in Flex by 2.1% in the first 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 boosted its holdings in Flex by 57.0% in the fourth 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. boosted its holdings in Flex by 7.9% in the first 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 institutional investors.

Analyst Ratings Changes

FLEX has been the topic of several research reports. KeyCorp lifted their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. 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. Finally, Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

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.