Flex (NASDAQ:FLEX) CAO Sells $561,988.30 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 3,890 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.47, for a total transaction of $561,988.30. Following the transaction, the chief accounting officer directly owned 39,243 shares of the company’s stock, valued at $5,669,436.21. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Thursday, June 18th, Daniel Wendler sold 1,311 shares of Flex stock. The stock was sold at an average price of $145.20, for a total transaction of $190,357.20.
• On Monday, June 15th, Daniel Wendler sold 1,579 shares of Flex stock. The shares were sold at an average price of $147.64, for a total transaction of $233,123.56.
• On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The shares were sold at an average price of $142.39, for a total value of $543,787.41.

Flex Stock Performance

FLEX stock traded up $8.20 on Monday, reaching $155.81. The company’s stock had a trading volume of 7,414,337 shares, compared to its average volume of 8,906,334. Flex Ltd. has a 52 week low of $45.31 and a 52 week high of $166.86. The company has a market capitalization of $57.09 billion, a P/E ratio of 66.87, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63. The firm has a fifty day moving average of $125.25 and a two-hundred day moving average of $85.91. 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 (NASDAQ:FLEX) last posted its earnings results 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. As a group, analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. The Goldman Sachs Group raised their price objective on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.70.

Institutional Investors Weigh In On Flex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. Norges Bank bought a new stake in shares of Flex in the 4th quarter worth approximately $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flex during the fourth quarter valued at approximately $2,497,000. Sequoia Financial Advisors LLC boosted its holdings in Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after buying an additional 19,270 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock worth $20,566,000 after buying an additional 130,641 shares in the last quarter. 94.30% of the stock is currently owned by 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.