Flex Ltd. (NASDAQ:FLEX) Director Sells $2,162,500.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Flex Price Performance

FLEX stock opened at $42.51 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The firm has a market cap of $16.29 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The stock has a 50-day simple moving average of $40.64 and a 200-day simple moving average of $36.26.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flex

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in Flex during the 3rd quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Flex during the 4th quarter valued at approximately $35,000. R Squared Ltd acquired a new stake in Flex during the 4th quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after purchasing an additional 509 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on Flex in a report on Tuesday. They issued a “buy” rating and a $52.00 price objective on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $44.33.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.