Flex (NASDAQ:FLEX) Insider Michael Hartung Sells 22,627 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) insider Michael Hartung sold 22,627 shares of Flex stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares of the company’s stock, valued at $36,582,191.52. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flex Stock Up 5.6%

Shares of NASDAQ FLEX opened at $155.81 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $57.09 billion, a PE ratio of 66.87, a P/E/G ratio of 0.78 and a beta of 1.63. The company’s fifty day simple moving average is $125.25 and its 200 day simple moving average is $85.91. Flex Ltd. has a 12-month low of $45.31 and a 12-month high of $166.86.

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

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is set to join the S&P 500 Index effective before the open on June 22, a development that often supports shares by bringing in passive investment flows and boosting visibility with large-cap investors. Flex Ltd. (FLEX) to Join S&P 500 Index on June 22
• Neutral Sentiment: The company reported multiple insider sales by CEO Revathi Advaithi, COO Kwang Hooi Tan, EVP David Scott Offer, CAO Daniel Wendler, and insider Michael P. Hartung. The filings note these trades were made under pre-arranged Rule 10b5-1 plans and to cover tax withholding from vested equity awards, which makes them less concerning than discretionary selling.
• Neutral Sentiment: One unrelated news item referenced “flex-fuel” Hyundai cars in India, but it does not appear to be related to Flex Ltd. and is unlikely to affect the stock. 5 Hyundai Cars Likely To Get Flex-Fuel Engine In India In 2026

Analyst Ratings Changes

Several research firms have commented on FLEX. Barclays increased their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted 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. Robert W. Baird set a $165.00 price target on shares of Flex in a research report on Thursday, May 7th. Finally, Stifel Nicolaus increased their target price on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $115.70.

Institutional Trading of Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after buying an additional 25,662,586 shares in the last quarter. Norges Bank purchased a new stake in shares of Flex in the fourth quarter worth about $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Flex in the fourth quarter worth about $2,497,000. Sequoia Financial Advisors LLC boosted its position in shares of Flex by 12.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after acquiring an additional 130,641 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

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.