Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom Sells 35,733 Shares

Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom sold 35,733 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $1,023,750.45. Following the completion of the transaction, the chief financial officer now owns 507,752 shares in the company, valued at approximately $14,547,094.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Flex Stock Performance

Shares of FLEX stock opened at $28.90 on Friday. The firm has a market capitalization of $12.17 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The firm has a fifty day simple moving average of $28.54 and a two-hundred day simple moving average of $26.94. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12 month low of $21.58 and a 12 month high of $30.93.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLEX. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $28.00 to $27.00 in a report on Thursday, May 2nd. Barclays increased their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. raised their target price on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, StockNews.com started coverage on Flex in a report on Wednesday, March 6th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Institutional Investors Weigh In On Flex

Large investors have recently added to or reduced their stakes in the business. Troluce Capital Advisors LLC boosted its stake in shares of Flex by 101.2% during the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock valued at $14,858,000 after purchasing an additional 48,097,992 shares during the period. Norges Bank purchased a new stake in Flex during the 4th quarter valued at about $165,000,000. Schonfeld Strategic Advisors LLC increased its position in shares of Flex by 211.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock valued at $38,032,000 after acquiring an additional 956,676 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Flex by 63.9% in the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after purchasing an additional 944,928 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Flex by 57.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock valued at $48,985,000 after purchasing an additional 665,076 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.