Flex (NASDAQ:FLEX) Director Sells $341,475.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 2,500 shares of Flex stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $136.59, for a total value of $341,475.00. Following the completion of the sale, the director owned 14,512 shares in the company, valued at approximately $1,982,194.08. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Flex Price Performance

Shares of FLEX stock opened at $143.60 on Friday. The firm has a market cap of $52.80 billion, a P/E ratio of 61.63 and a beta of 1.46. Flex Ltd. has a fifty-two week low of $40.15 and a fifty-two week high of $147.34. The business’s 50 day moving average price is $82.32 and its 200-day moving average price is $69.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, equities research analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. Barclays raised their target price on Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus raised their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. raised their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLEX. Vanguard Group Inc. raised its stake in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Norges Bank purchased a new position in Flex during the fourth quarter valued at $319,756,000. State Street Corp raised its stake in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after buying an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Flex by 694,916.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after buying an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its stake in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after buying an additional 2,165,780 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.