Insider Selling: Flex (NASDAQ:FLEX) CEO Sells $5,805,802.44 in Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 39,239 shares of Flex stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $147.96, for a total transaction of $5,805,802.44. Following the sale, the chief executive officer directly owned 566,283 shares in the company, valued at $83,787,232.68. The trade was a 6.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, May 22nd, Revathi Advaithi sold 83,500 shares of Flex stock. The stock was sold at an average price of $132.87, for a total transaction of $11,094,645.00.
• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30.

Flex Stock Performance

Flex stock opened at $147.61 on Friday. The stock has a market cap of $54.08 billion, a price-to-earnings ratio of 63.35, a PEG ratio of 0.78 and a beta of 1.64. 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 stock’s 50 day simple moving average is $123.64 and its two-hundred day simple moving average is $85.02. Flex Ltd. has a fifty-two week low of $45.31 and a fifty-two week high of $166.86.

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

Institutional Trading of Flex

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Flex by 9.3% in the first quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after buying an additional 109,992 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Flex in the first quarter worth approximately $4,949,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Flex during the first quarter valued at approximately $446,000. Western Wealth Management LLC bought a new stake in shares of Flex during the first quarter valued at approximately $65,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Flex in the 1st quarter worth approximately $5,891,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FLEX shares. Barclays lifted their price target on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One equities research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

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.