Michael Hartung Sells 22,627 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) insider Michael Hartung sold 22,627 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares in the company, valued at approximately $36,582,191.52. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Flex Trading Down 2.5%

Shares of FLEX stock opened at $151.85 on Wednesday. The business has a 50-day moving average price of $126.76 and a two-hundred day moving average price of $86.56. Flex Ltd. has a 12-month low of $46.64 and a 12-month high of $166.86. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $55.63 billion, a P/E ratio of 65.17, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm 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%. Equities analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.

More Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex recently joined the S&P 500, which can attract passive index buying and improve visibility with institutional investors. Flex Ltd. (FLEX) to Join S&P 500 Index on June 22
• Neutral Sentiment: Multiple insiders, including CEO Revathi Advaithi, COO Kwang Hooi Tan, EVP David Scott Offer, CAO Daniel Wendler, and insider Michael P. Hartung, sold shares in recent filings. The company said the sales were tied to Rule 10b5-1 plans and tax withholding on vested equity awards, which reduces concern about negative fundamental news.
• Neutral Sentiment: One article mentioned “flex-fuel” Hyundai cars in India, but it does not appear related to Flex Ltd. and is unlikely to affect the stock. 5 Hyundai Cars Likely To Get Flex-Fuel Engine In India In 2026

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLEX. Barclays upped their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. KeyCorp boosted their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, The Goldman Sachs Group boosted their target price 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 given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

Institutional Trading of Flex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Norges Bank purchased a new stake in Flex in the fourth quarter worth $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Flex in the fourth quarter worth $2,497,000. Sequoia Financial Advisors LLC raised its holdings in Flex by 12.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after purchasing an additional 19,270 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after buying an additional 130,641 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

About Flex

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.