Lay Koon Tan Sells 50,000 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Flex Trading Down 1.4 %

NASDAQ FLEX opened at $42.39 on Friday. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.58 and a beta of 1.10. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The business’s fifty day moving average is $40.50 and its 200-day moving average is $36.14.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Equities research analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

FLEX has been the subject of several research reports. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $44.33.

Institutional Investors Weigh In On Flex

Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in Flex by 0.6% in the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after acquiring an additional 839 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in Flex in the 4th quarter worth about $368,000. JPMorgan Chase & Co. increased its holdings in Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after acquiring an additional 296,505 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Flex by 113.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after acquiring an additional 257,975 shares during the last quarter. Finally, KBC Group NV grew its holdings in Flex by 872.7% during the 4th quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock valued at $3,998,000 after buying an additional 93,426 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

About Flex

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.