Flex (NASDAQ:FLEX) Insider Michael Hartung Sells 8,203 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) insider Michael Hartung sold 8,203 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $148.01, for a total value of $1,214,126.03. Following the completion of the transaction, the insider owned 232,102 shares in the company, valued at $34,353,417.02. This trade represents a 3.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flex Stock Down 2.6%

FLEX opened at $143.13 on Thursday. The company has a market capitalization of $52.44 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a fifty-two week low of $45.31 and a fifty-two week high of $166.86. The business has a 50-day moving average of $120.56 and a 200-day moving average of $83.95.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results 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 business had revenue of $7.48 billion during the quarter. Equities research analysts forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Flex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLEX. USA Financial Formulas bought a new stake in Flex during the fourth quarter worth about $28,000. Frazier Financial Advisors LLC bought a new position in shares of Flex in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its holdings 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 worth $28,000 after acquiring an additional 166 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Flex during the 4th quarter valued at $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLEX. Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. 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 report on Thursday, May 7th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Barclays boosted their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst coverage remains constructive, with several firms raising price targets in recent weeks and the stock still carrying a “Moderate Buy” consensus, which supports the longer-term outlook. Flex stock page
• Neutral Sentiment: Insiders, including CEO Revathi Advaithi, CFO Kevin Krumm, COO Kwang Hooi Tan, and EVP David Scott Offer, sold shares in recent days, but the filings say the sales were made to cover tax withholding obligations tied to equity awards and, in one case, under a pre-arranged 10b5-1 plan. SEC filing
• Neutral Sentiment: Flex continues to show solid operating fundamentals, with its most recent quarter delivering $0.93 EPS on $7.48 billion in revenue, which helps offset some of the sentiment impact from insider selling. Flex stock page
• Negative Sentiment: The biggest drag on sentiment is the cluster of insider sales across senior leadership, which can signal caution to traders even when the transactions are explained as non-discretionary. SEC filing

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.