Flex (NASDAQ:FLEX) CEO Revathi Advaithi Sells 83,500 Shares

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the transaction, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Revathi Advaithi also recently made the following trade(s):

• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30.

Flex Stock Up 8.1%

FLEX stock opened at $143.24 on Wednesday. The company has a market cap of $52.48 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 0.70 and a beta of 1.46. 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 Ltd. has a 12 month low of $41.43 and a 12 month high of $147.34. The firm has a 50-day moving average of $93.62 and a two-hundred day moving average of $73.73.

Flex (NASDAQ:FLEX) last released its quarterly earnings data 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 net margin of 3.15% and a return on equity of 22.12%. As a group, analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. KeyCorp raised 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. Raymond James Financial set a $80.00 target price on Flex and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Robert W. Baird set a $165.00 price target on shares of Flex in a report on Thursday, May 7th. Finally, The Goldman Sachs Group raised their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Hedge Funds Weigh In On Flex

Several institutional investors have recently bought and sold shares of FLEX. Brighton Jones LLC acquired a new position in Flex in the 4th quarter valued at about $260,000. Goldman Sachs Group Inc. grew its stake in shares of Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Flex in the first quarter worth $397,000. EverSource Wealth Advisors LLC grew its stake in shares of Flex by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after acquiring an additional 29,821 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

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.