Flex Ltd (NASDAQ:FLEX) Director Marc A. Onetto bought 11,500 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was bought at an average price of $8.49 per share, with a total value of $97,635.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
FLEX opened at $8.47 on Friday. Flex Ltd has a 12-month low of $6.74 and a 12-month high of $19.71. The company has a quick ratio of 0.69, a current ratio of 1.23 and a debt-to-equity ratio of 1.07. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.58.
Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, October 25th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Flex had a net margin of 1.15% and a return on equity of 9.83%. The company had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.81 billion. Analysts expect that Flex Ltd will post 0.82 EPS for the current year.
Flex declared that its board has initiated a share repurchase program on Tuesday, August 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
FLEX has been the subject of a number of recent analyst reports. Needham & Company LLC cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Goldman Sachs Group cut shares of Flex from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. ValuEngine cut shares of Flex from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Argus cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Macquarie set a $9.00 price target on shares of Flex and gave the stock a “hold” rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Flex presently has an average rating of “Hold” and a consensus price target of $17.94.
Institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board raised its position in Flex by 2,570.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,492,826 shares of the technology company’s stock worth $21,064,000 after buying an additional 1,436,925 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Flex during the 2nd quarter valued at approximately $4,738,000. Maplelane Capital LLC increased its holdings in shares of Flex by 29.0% during the 2nd quarter. Maplelane Capital LLC now owns 1,032,259 shares of the technology company’s stock valued at $14,565,000 after purchasing an additional 232,258 shares in the last quarter. Signition LP purchased a new position in shares of Flex during the 3rd quarter valued at approximately $219,000. Finally, AT Bancorp purchased a new position in shares of Flex during the 2nd quarter valued at approximately $556,000. 92.78% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Insider Buying: Flex Ltd (FLEX) Director Acquires 11,500 Shares of Stock” was originally posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://transcriptdaily.com/2018/12/07/insider-buying-flex-ltd-flex-director-acquires-11500-shares-of-stock.html.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
Featured Story: 52-Week High/Low
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.