Flex (NASDAQ:FLEX) CAO Daniel Wendler Sells 1,579 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,579 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $147.64, for a total transaction of $233,123.56. Following the sale, the chief accounting officer owned 33,417 shares of the company’s stock, valued at $4,933,685.88. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Daniel Wendler also recently made the following trade(s):

• On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The stock was sold at an average price of $142.39, for a total transaction of $543,787.41.

Flex Price Performance

NASDAQ FLEX opened at $143.13 on Thursday. The business’s fifty day moving average is $120.56 and its 200 day moving average is $83.95. Flex Ltd. has a fifty-two week low of $45.31 and a fifty-two week high of $166.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The company has a market capitalization of $52.44 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS 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 for the quarter. Sell-side analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.

Analysts Set New Price Targets

FLEX has been the topic of several analyst reports. KeyCorp lifted their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus boosted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

More Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst coverage remains constructive, with several firms raising price targets in recent weeks and the stock still carrying a “Moderate Buy” consensus, which supports the longer-term outlook. Flex stock page
• Neutral Sentiment: Insiders, including CEO Revathi Advaithi, CFO Kevin Krumm, COO Kwang Hooi Tan, and EVP David Scott Offer, sold shares in recent days, but the filings say the sales were made to cover tax withholding obligations tied to equity awards and, in one case, under a pre-arranged 10b5-1 plan. SEC filing
• Neutral Sentiment: Flex continues to show solid operating fundamentals, with its most recent quarter delivering $0.93 EPS on $7.48 billion in revenue, which helps offset some of the sentiment impact from insider selling. Flex stock page
• Negative Sentiment: The biggest drag on sentiment is the cluster of insider sales across senior leadership, which can signal caution to traders even when the transactions are explained as non-discretionary. SEC filing

Hedge Funds Weigh In On Flex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Flex by 196.1% in 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. Norges Bank bought a new position in Flex during the fourth quarter valued at approximately $319,756,000. State Street Corp grew its holdings in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Flex by 694,916.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock worth $159,573,000 after buying an additional 2,640,682 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its position in Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after acquiring an additional 2,165,780 shares in the last quarter. Institutional investors 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.