Erin Mcsweeney Sells 2,000 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.51, for a total value of $265,020.00. Following the completion of the transaction, the director owned 9,512 shares of the company’s stock, valued at $1,260,435.12. This trade represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Erin Mcsweeney also recently made the following trade(s):

• On Thursday, May 14th, Erin Mcsweeney sold 3,000 shares of Flex stock. The shares were sold at an average price of $145.88, for a total value of $437,640.00.
• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The stock was sold at an average price of $136.59, for a total value of $341,475.00.

Flex Trading Up 1.8%

Shares of NASDAQ FLEX opened at $145.79 on Thursday. Flex Ltd. has a one year low of $41.43 and a one year high of $147.34. The firm has a market capitalization of $53.41 billion, a PE ratio of 62.57, a PEG ratio of 0.75 and a beta of 1.46. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $95.25 and a two-hundred day moving average price of $74.31.

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

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Investors continue to react positively to Flex’s AI infrastructure spin-off plan and stronger outlook, which has helped re-rate the shares higher amid optimism around data-center demand. Flex rallies 6.2% as AI infrastructure spin-off plan and upbeat outlook continue to re-rate shares
• Neutral Sentiment: CEO Revathi Advaithi sold 83,500 shares in a pre-arranged Rule 10b5-1 transaction, which is notable but may be viewed as routine insider selling rather than a change in business outlook.
• Neutral Sentiment: Director Erin McSweeney sold 2,000 shares, following prior sales earlier in the month; the repeated insider selling may create some caution, but the amount is relatively small versus Flex’s large market value.
• Negative Sentiment: Multiple insider sales over the past several months, with no reported insider purchases, could pressure investor sentiment if traders interpret the pattern as executives taking profits after a sharp run-up.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. JSF Financial LLC raised its stake in shares of Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 115 shares in the last quarter. Glenview Trust Co raised its stake in shares of Flex by 3.4% in the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after acquiring an additional 125 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after acquiring an additional 163 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock valued at $159,000 after acquiring an additional 178 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays raised their price target on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. KeyCorp raised their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird set a $165.00 price target on Flex in a research note on Thursday, May 7th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, The Goldman Sachs Group raised their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.80.

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.