Flex Ltd. (NASDAQ:FLEX) CFO Sells $1,023,750.45 in Stock

Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom sold 35,733 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the transaction, the chief financial officer now directly owns 507,752 shares of the company’s stock, valued at $14,547,094.80. The sale was disclosed in a document filed with the SEC, which is available through this link.

Flex Price Performance

FLEX opened at $28.90 on Friday. The company has a market capitalization of $12.17 billion, a P/E ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18. The company has a 50-day moving average of $28.54 and a 200-day moving average of $26.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a 1-year low of $21.58 and a 1-year high of $30.93.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLEX. Oppenheimer & Co. Inc. grew its holdings in shares of Flex by 3.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after purchasing an additional 497 shares during the last quarter. Wahed Invest LLC increased its stake in shares of Flex by 8.1% during the third quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after purchasing an additional 530 shares in the last quarter. Park Avenue Securities LLC raised its position in Flex by 1.5% in the third quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 589 shares during the period. Veracity Capital LLC increased its position in Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after buying an additional 599 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Flex by 8.4% during the 4th quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock valued at $266,000 after purchasing an additional 679 shares during the period. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on FLEX shares. Barclays boosted their price target on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com started coverage on Flex in a report on Wednesday, March 6th. They set a “hold” rating for the company. Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.83.

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.