Flex Ltd (FLEX) CEO Michael M. Mcnamara Sells 48,317 Shares of Stock

Flex Ltd (NASDAQ:FLEX) CEO Michael M. Mcnamara sold 48,317 shares of Flex stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $16.52, for a total transaction of $798,196.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Flex Ltd (NASDAQ:FLEX) traded up 2.06% on Monday, reaching $16.84. 3,686,709 shares of the company were exchanged. The company’s 50-day moving average price is $16.48 and its 200 day moving average price is $15.86. Flex Ltd has a 12 month low of $11.51 and a 12 month high of $17.76. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 28.54 and a beta of 0.75.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Flex had a return on equity of 13.29% and a net margin of 1.48%. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the business earned $0.29 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Flex Ltd will post $1.21 EPS for the current year.

Insider Buying and Selling by Quarter for Flex (NASDAQ:FLEX)

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A number of institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank boosted its position in shares of Flex by 26.1% in the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock valued at $100,000 after buying an additional 1,234 shares during the period. Keybank National Association OH bought a new position in shares of Flex during the first quarter valued at $199,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Flex by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after buying an additional 516 shares during the period. FNY Partners Fund LP bought a new position in shares of Flex during the first quarter valued at $214,000. Finally, Ronald Blue & Co. LLC boosted its position in shares of Flex by 8.8% in the first quarter. Ronald Blue & Co. LLC now owns 13,062 shares of the technology company’s stock valued at $219,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $21.00 price target on shares of Flex in a research report on Friday. BidaskClub cut shares of Flex from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Finally, Bank of America Corporation restated a “buy” rating and set a $19.50 price objective (up previously from $17.50) on shares of Flex in a report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.13.

About Flex

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

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