Flex (NASDAQ:FLEX) CAO Sells $233,123.56 in 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 value of $233,123.56. Following the completion of the sale, the chief accounting officer directly owned 33,417 shares in the company, valued at approximately $4,933,685.88. The trade was a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $142.39, for a total value of $543,787.41.

Flex Trading Down 2.6%

NASDAQ FLEX traded down $3.80 on Wednesday, reaching $143.13. The stock had a trading volume of 7,319,362 shares, compared to its average volume of 5,230,561. The firm has a market capitalization of $52.44 billion, a price-to-earnings ratio of 61.43, a P/E/G ratio of 0.77 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12-month low of $45.31 and a 12-month high of $166.86. The stock has a fifty day moving average price of $120.56 and a two-hundred day moving average price of $83.95.

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 company 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 forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of FLEX. Vanguard Group Inc. lifted its position in Flex by 196.1% in the fourth 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 purchased a new stake in Flex in the fourth quarter valued at $319,756,000. State Street Corp lifted its position in 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 acquiring an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Flex by 694,916.3% in the fourth 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 valued at $159,573,000 after acquiring an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted 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 valued at $223,140,000 after acquiring an additional 2,165,780 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLEX. The Goldman Sachs Group boosted their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus boosted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

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.