Insider Selling: Flex Ltd. (NASDAQ:FLEX) EVP Sells 10,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The sale was disclosed in a document filed with the SEC, which is available through this link.

David Scott Offer also recently made the following trade(s):

• On Monday, August 26th, David Scott Offer sold 10,000 shares of Flex stock. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00.
• On Monday, June 17th, David Scott Offer sold 7,037 shares of Flex stock. The shares were sold at an average price of $31.30, for a total transaction of $220,258.10.
• On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The shares were sold at an average price of $32.20, for a total transaction of $356,003.20.
• On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $369,345.62.

Flex Price Performance

Shares of FLEX stock opened at $32.45 on Tuesday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.03 and a beta of 1.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.40. The stock’s 50-day simple moving average is $30.44 and its 200-day simple moving average is $29.71.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. As a group, equities analysts forecast that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FLEX shares. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Barclays raised their target price on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $38.40.

Institutional Investors Weigh In On Flex

Large investors have recently modified their holdings of the business. Richardson Financial Services Inc. purchased a new stake in shares of Flex during the fourth quarter worth about $34,000. Quarry LP purchased a new stake in Flex in the second quarter valued at approximately $43,000. American Capital Advisory LLC purchased a new stake in Flex in the second quarter valued at approximately $46,000. CWM LLC boosted its position in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its position in Flex by 623.6% in the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after buying an additional 2,538 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.