Insider Selling: Flex (NASDAQ:FLEX) Director Sells 3,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 3,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $145.88, for a total transaction of $437,640.00. Following the sale, the director owned 11,512 shares of the company’s stock, valued at approximately $1,679,370.56. This represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Erin Mcsweeney also recently made the following trade(s):

• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The stock was sold at an average price of $136.59, for a total value of $341,475.00.

Flex Stock Performance

Flex stock traded down $5.74 during mid-day trading on Friday, reaching $137.86. 6,489,184 shares of the stock traded hands, compared to its average volume of 6,143,267. Flex Ltd. has a 12-month low of $40.15 and a 12-month high of $147.34. The business’s 50-day moving average is $83.80 and its 200-day moving average is $70.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The stock has a market capitalization of $50.69 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.46.

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

Hedge Funds Weigh In On Flex

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Flex by 196.1% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Flex during the 4th quarter valued at $319,756,000. State Street Corp boosted its holdings in Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 raised its holdings in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after acquiring an additional 2,165,780 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the subject of several recent research reports. Barclays boosted their target price on shares of Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. KeyCorp lifted their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, The Goldman Sachs Group lifted their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and a consensus price target of $112.80.

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.