Flex (NASDAQ:FLEX) CEO Revathi Advaithi Sells 39,239 Shares

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 39,239 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $147.96, for a total transaction of $5,805,802.44. Following the sale, the chief executive officer owned 566,283 shares in the company, valued at $83,787,232.68. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Revathi Advaithi also recently made the following trade(s):

• On Friday, May 22nd, Revathi Advaithi sold 83,500 shares of Flex stock. The stock was sold at an average price of $132.87, for a total transaction of $11,094,645.00.
• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30.

Flex Stock Down 2.6%

Shares of FLEX stock traded down $3.80 during trading hours on Wednesday, reaching $143.13. 7,319,362 shares of the stock were exchanged, compared to its average volume of 5,230,561. The business’s fifty day moving average is $120.56 and its two-hundred day moving average is $83.95. 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 12-month low of $45.31 and a 12-month high of $166.86. The firm has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a P/E/G ratio of 0.77 and a beta of 1.64.

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

Institutional Trading of Flex

Large investors have recently made changes to their positions in the stock. USA Financial Formulas acquired a new stake in Flex in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust boosted 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 buying an additional 166 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Flex in the 4th quarter worth about $28,000. CENTRAL TRUST Co boosted its stake in Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Barclays upped their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Stifel Nicolaus upped their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. KeyCorp upped their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.70.

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.