Flex Ltd. (NASDAQ:FLEX) Director Lay Koon Tan Sells 50,000 Shares

Flex Ltd. (NASDAQ:FLEX) Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Flex Trading Up 0.5 %

Flex stock opened at $43.01 on Thursday. The company has a 50 day moving average price of $40.50 and a 200 day moving average price of $36.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Research analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday. They set a “buy” rating and a $52.00 target price for the company. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $44.33.

Institutional Investors Weigh In On Flex

Large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after purchasing an additional 839 shares during the period. One Wealth Advisors LLC acquired a new position in shares of Flex during the fourth quarter worth approximately $368,000. JPMorgan Chase & Co. grew its stake in shares of Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after acquiring an additional 296,505 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after acquiring an additional 257,975 shares during the period. Finally, KBC Group NV increased its position in Flex by 872.7% during the fourth quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock worth $3,998,000 after acquiring an additional 93,426 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.