Flex (NASDAQ:FLEX) COO Kwang Hooi Tan Sells 17,500 Shares

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the transaction, the chief operating officer owned 238,543 shares in the company, valued at $32,425,149.99. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kwang Hooi Tan also recently made the following trade(s):

• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The stock was sold at an average price of $142.37, for a total value of $3,726,534.75.
• On Monday, March 9th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00.

Flex Stock Performance

Shares of Flex stock traded up $10.77 during trading on Tuesday, reaching $143.24. The company’s stock had a trading volume of 5,439,082 shares, compared to its average volume of 6,676,761. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The business’s fifty day moving average price is $93.62 and its 200-day moving average price is $73.73. The firm has a market cap of $52.48 billion, a price-to-earnings ratio of 61.48, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. Flex Ltd. has a one year low of $41.43 and a one year high of $147.34.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 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, equities research analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays boosted their price target on Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.80.

Institutional Investors Weigh In On Flex

Institutional investors have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new stake in Flex during the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its holdings in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Flex during the fourth quarter valued at approximately $42,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Company Profile

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.