Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer Sells 10,000 Shares

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Scott Offer also recently made the following trade(s):

• On Monday, August 26th, David Scott Offer sold 10,000 shares of Flex stock. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00.
• On Monday, June 17th, David Scott Offer sold 7,037 shares of Flex stock. The stock was sold at an average price of $31.30, for a total value of $220,258.10.
• On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The shares were sold at an average price of $32.20, for a total value of $356,003.20.
• On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The stock was sold at an average price of $32.53, for a total transaction of $369,345.62.

Flex Stock Down 1.5 %

Shares of Flex stock traded down $0.48 during trading on Monday, reaching $32.45. 1,457,880 shares of the company traded hands, compared to its average volume of 4,295,657. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.79. The firm has a market capitalization of $12.94 billion, a PE ratio of 14.11, a P/E/G ratio of 2.03 and a beta of 1.12. The company has a 50 day moving average price of $30.44 and a 200-day moving average price of $29.71.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. As a group, equities research analysts expect that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $39.00 in a report on Thursday, July 25th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex presently has an average rating of “Buy” and an average target price of $38.40.

Hedge Funds Weigh In On Flex

A number of institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of Flex in the fourth quarter valued at $34,000. Quarry LP purchased a new stake in shares of Flex in the second quarter worth approximately $43,000. American Capital Advisory LLC purchased a new position in shares of Flex during the second quarter valued at approximately $46,000. CWM LLC raised its position in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after acquiring an additional 2,538 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

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.