Insider Selling: Flex (NASDAQ:FLEX) COO Sells $3,726,534.75 in Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 26,175 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $3,726,534.75. Following the completion of the sale, the chief operating officer directly owned 256,043 shares of the company’s stock, valued at approximately $36,452,841.91. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kwang Hooi Tan also recently made the following trade(s):

• On Monday, March 9th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00.

Flex Stock Down 0.1%

NASDAQ:FLEX opened at $143.60 on Friday. The firm has a market capitalization of $52.80 billion, a PE ratio of 61.63 and a beta of 1.46. The stock has a 50 day moving average of $82.32 and a 200-day moving average of $69.84. Flex Ltd. has a 52 week low of $40.15 and a 52 week high of $147.34. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. Analysts predict that Flex Ltd. will post 4.15 EPS for the current year.

Institutional Trading of Flex

Several large investors have recently added to or reduced their stakes in the company. JSF Financial LLC increased its stake in shares of Flex by 0.6% in the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 115 shares during the last quarter. Glenview Trust Co increased its stake in shares of Flex by 3.4% in the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after acquiring an additional 125 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Flex by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after acquiring an additional 163 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after acquiring an additional 166 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Flex by 7.9% in the first quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after acquiring an additional 178 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLEX shares. The Goldman Sachs Group upped their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.80.

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.