Flex (NASDAQ:FLEX) COO Kwang Hooi Tan Sells 17,500 Shares

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at approximately $32,425,149.99. This trade represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The shares were sold at an average price of $142.37, for a total transaction of $3,726,534.75.
• On Monday, March 9th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The shares were sold at an average price of $58.87, for a total transaction of $1,030,225.00.

Flex Stock Up 8.1%

Shares of NASDAQ:FLEX opened at $143.24 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The company has a market cap of $52.48 billion, a PE ratio of 61.48, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. Flex Ltd. has a 52 week low of $41.43 and a 52 week high of $147.34. The firm has a 50 day simple moving average of $93.62 and a 200 day simple moving average of $73.73.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on FLEX shares. KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Barclays increased their target price on shares of Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group increased their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.80.

Institutional Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new stake in Flex in the 1st quarter worth approximately $446,000. Western Wealth Management LLC bought a new position in shares of Flex during the 1st quarter valued at $65,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Flex during the 1st quarter valued at $5,891,000. Amundi raised its holdings in shares of Flex by 15.5% during the 1st quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after purchasing an additional 200,553 shares in the last quarter. Finally, Talon Private Wealth LLC bought a new position in shares of Flex during the 1st quarter valued at $639,000. 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.