Flex (NASDAQ:FLEX) Director Sells $265,020.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the transaction, the director directly owned 9,512 shares in the company, valued at approximately $1,260,435.12. The trade was a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Erin Mcsweeney also recently made the following trade(s):

• On Thursday, May 14th, Erin Mcsweeney sold 3,000 shares of Flex stock. The stock was sold at an average price of $145.88, for a total value of $437,640.00.
• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The stock was sold at an average price of $136.59, for a total value of $341,475.00.

Flex Stock Performance

Shares of NASDAQ FLEX traded up $10.77 during midday trading on Tuesday, reaching $143.24. The company had a trading volume of 5,439,082 shares, compared to its average volume of 6,676,761. The business’s 50-day simple moving average is $93.62 and its 200 day simple moving average is $73.73. The stock has a market cap of $52.48 billion, a P/E ratio of 61.48, a P/E/G ratio of 0.70 and a beta of 1.46. Flex Ltd. has a 1 year low of $41.43 and a 1 year 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 quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FLEX. Stifel Nicolaus raised their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp raised their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. State Street Corp raised its holdings in shares of Flex by 17.8% during the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Flex by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the last quarter. Norges Bank purchased a new position in shares of Flex during the fourth quarter worth $319,756,000. Finally, Polar Capital Holdings Plc grew its position 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 period. 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.