Flex (NASDAQ:FLEX) Director Erin Mcsweeney Sells 2,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $132.51, for a total transaction of $265,020.00. Following the transaction, the director owned 9,512 shares in the company, valued at $1,260,435.12. This represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, May 14th, Erin Mcsweeney sold 3,000 shares of Flex stock. The shares were sold at an average price of $145.88, for a total transaction of $437,640.00.
• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The stock was sold at an average price of $136.59, for a total transaction of $341,475.00.

Flex Trading Up 8.1%

Shares of NASDAQ:FLEX opened at $143.24 on Wednesday. The stock has a market capitalization of $52.48 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 0.70 and a beta of 1.46. Flex Ltd. has a 1-year low of $41.43 and a 1-year high of $147.34. 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 50 day moving average price of $93.62 and a 200 day moving average price of $73.73.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm 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%. On average, research analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLEX. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus raised their target price on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, KeyCorp raised their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Hedge Funds Weigh In On Flex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Allianz Asset Management GmbH boosted its stake in Flex by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock worth $138,749,000 after purchasing an additional 360,553 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Flex in the 4th quarter worth approximately $2,497,000. Winnow Wealth LLC acquired a new position in Flex in the 3rd quarter worth approximately $1,058,000. Finally, Nordea Investment Management AB acquired a new stake in shares of Flex during the 4th quarter valued at $2,056,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.