Insider Selling: Flex (NASDAQ:FLEX) CAO Sells $233,123.56 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,579 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 33,417 shares of the company’s stock, valued at $4,933,685.88. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $142.39, for a total value of $543,787.41.

Flex Price Performance

Shares of FLEX stock opened at $147.61 on Friday. Flex Ltd. has a 52 week low of $45.31 and a 52 week high of $166.86. The stock has a market capitalization of $54.08 billion, a PE ratio of 63.35, a PEG ratio of 0.78 and a beta of 1.64. 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 stock’s fifty day moving average is $123.64 and its 200-day moving average is $85.02.

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

Hedge Funds Weigh In On Flex

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. State Street Corp lifted its stake in shares of Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock valued at $849,235,000 after purchasing an additional 2,126,440 shares during the period. Geode Capital Management LLC lifted its stake in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after purchasing an additional 181,266 shares during the period. Norges Bank bought a new position in shares of Flex in the 4th quarter worth $319,756,000. Finally, Polar Capital Holdings Plc grew its stake in shares of Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLEX. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. KeyCorp boosted their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

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.