Flex (NASDAQ:FLEX) CAO Daniel Wendler Sells 1,311 Shares

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,311 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the transaction, the chief accounting officer owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Wednesday, June 17th, Daniel Wendler sold 3,890 shares of Flex stock. The shares were sold at an average price of $144.47, for a total value of $561,988.30.
• On Monday, June 15th, Daniel Wendler sold 1,579 shares of Flex stock. The stock was sold at an average price of $147.64, for a total transaction of $233,123.56.
• 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 transaction of $543,787.41.

Flex Stock Up 5.6%

Shares of NASDAQ FLEX traded up $8.20 during midday trading on Monday, hitting $155.81. The company’s stock had a trading volume of 7,414,337 shares, compared to its average volume of 8,906,334. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market capitalization of $57.09 billion, a price-to-earnings ratio of 66.87, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63. The business’s fifty day simple moving average is $125.25 and its two-hundred day simple moving average is $85.91. Flex Ltd. has a 1 year low of $45.31 and a 1 year high of $166.86.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion for the quarter. On average, equities analysts predict that Flex Ltd. will post 4.15 EPS for the current year.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently made changes to their positions in FLEX. Pacer Advisors Inc. lifted its stake in Flex by 9.3% during the first quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after purchasing an additional 109,992 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in Flex in the first quarter valued at approximately $4,949,000. Segall Bryant & Hamill LLC purchased a new position in Flex in the first quarter valued at approximately $446,000. Western Wealth Management LLC acquired a new stake in Flex during the first quarter worth approximately $65,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in shares of Flex during the 1st quarter worth approximately $5,891,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays upped their price target on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their target price 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. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently 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.