Insider Selling: Flex (NASDAQ:FLEX) Director Sells 3,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 3,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $145.88, for a total value of $437,640.00. Following the completion of the transaction, the director owned 11,512 shares of the company’s stock, valued at approximately $1,679,370.56. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The shares were sold at an average price of $136.59, for a total transaction of $341,475.00.

Flex Stock Down 4.0%

Shares of NASDAQ:FLEX traded down $5.74 during midday trading on Friday, reaching $137.86. The company’s stock had a trading volume of 6,489,184 shares, compared to its average volume of 6,143,267. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $83.80 and a 200-day moving average of $70.32. The firm has a market capitalization of $50.69 billion, a P/E ratio of 59.17, a PEG ratio of 0.76 and a beta of 1.46. Flex Ltd. has a 12-month low of $40.15 and a 12-month high of $147.34.

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

Institutional Trading of Flex

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position 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 valued at $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. State Street Corp lifted its stake in Flex by 17.8% during the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock valued at $849,235,000 after acquiring an additional 2,126,440 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Flex by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after acquiring an additional 181,266 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Flex by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,631,237 shares of the technology company’s stock worth $326,443,000 after acquiring an additional 355,061 shares during the period. Finally, Norges Bank bought a new stake in shares of Flex in the fourth quarter worth approximately $319,756,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FLEX shares. The Goldman Sachs Group upped their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday. KeyCorp increased their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Raymond James Financial set a $80.00 price target on Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. One research 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. Based on data from MarketBeat, Flex presently 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.