Flex (NASDAQ:FLEX) CFO Kevin Krumm Sells 21,406 Shares

Flex Ltd. (NASDAQ:FLEX) CFO Kevin Krumm sold 21,406 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the transaction, the chief financial officer directly owned 143,803 shares of the company’s stock, valued at approximately $8,805,057.69. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Flex Stock Up 1.9%

NASDAQ FLEX opened at $61.50 on Friday. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market cap of $22.74 billion, a PE ratio of 27.21, a P/E/G ratio of 1.60 and a beta of 1.24. The stock’s 50 day moving average is $62.01 and its 200 day moving average is $57.35.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Flex in a research note on Wednesday, November 12th. Finally, Argus set a $85.00 target price on Flex in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Institutional Investors Weigh In On Flex

Several institutional investors have recently modified their holdings of FLEX. Fulton Bank N.A. increased its position in shares of Flex by 0.3% during the 3rd quarter. Fulton Bank N.A. now owns 49,904 shares of the technology company’s stock valued at $2,893,000 after purchasing an additional 167 shares during the last quarter. Diversified Trust Co boosted its stake in Flex by 2.4% during the third quarter. Diversified Trust Co now owns 7,697 shares of the technology company’s stock worth $446,000 after buying an additional 179 shares during the period. Parallel Advisors LLC increased its position in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock valued at $208,000 after acquiring an additional 181 shares during the last quarter. US Bancorp DE raised its stake in shares of Flex by 1.2% in the third quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 225 shares during the period. Finally, Modera Wealth Management LLC boosted its stake in shares of Flex by 3.4% during the 3rd quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company’s stock worth $406,000 after purchasing an additional 231 shares during the period. 94.30% of the stock is owned by institutional investors.

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.