Flex Ltd. (NASDAQ:FLEX) COO Sells $382,990.09 in Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 8,509 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $382,990.09. Following the completion of the sale, the chief operating officer now owns 276,136 shares in the company, valued at approximately $12,428,881.36. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 13th, Kwang Hooi Tan sold 6,470 shares of Flex stock. The shares were sold at an average price of $43.49, for a total value of $281,380.30.
• On Wednesday, June 4th, Kwang Hooi Tan sold 37,533 shares of Flex stock. The shares were sold at an average price of $42.87, for a total value of $1,609,039.71.
• On Tuesday, June 3rd, Kwang Hooi Tan sold 12,259 shares of Flex stock. The stock was sold at an average price of $42.90, for a total value of $525,911.10.
• On Monday, June 2nd, Kwang Hooi Tan sold 12,500 shares of Flex stock. The stock was sold at an average price of $42.07, for a total value of $525,875.00.
• On Tuesday, May 13th, Kwang Hooi Tan sold 34,335 shares of Flex stock. The stock was sold at an average price of $41.99, for a total value of $1,441,726.65.

Flex Price Performance

Shares of NASDAQ FLEX opened at $46.03 on Monday. The business’s 50 day moving average price is $39.44 and its two-hundred day moving average price is $38.52. The company has a market cap of $17.18 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $46.90.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. Flex had a return on equity of 19.01% and a net margin of 3.25%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC grew its position in shares of Flex by 16.7% in the first quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock valued at $159,243,000 after purchasing an additional 690,611 shares during the last quarter. Invst LLC acquired a new position in shares of Flex in the first quarter valued at approximately $615,000. Advisors Capital Management LLC grew its position in shares of Flex by 8.4% in the first quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company’s stock valued at $252,000 after purchasing an additional 589 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Flex in the first quarter valued at approximately $66,000. Finally, Bayforest Capital Ltd grew its position in shares of Flex by 369.9% in the first quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company’s stock valued at $480,000 after purchasing an additional 11,431 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

FLEX has been the topic of several analyst reports. KeyCorp reiterated an “overweight” rating on shares of Flex in a report on Tuesday, June 3rd. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Bank of America boosted their price target on Flex from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flex presently has an average rating of “Buy” and a consensus target price of $46.00.

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.