Flex Ltd. (NASDAQ:FLEX) Insider Michael P. Hartung Sells 64,807 Shares

Flex Ltd. (NASDAQ:FLEX) insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Flex Stock Performance

NASDAQ:FLEX opened at $43.16 on Friday. Flex Ltd. has a 1-year low of $24.57 and a 1-year high of $45.10. The firm has a 50 day simple moving average of $40.18 and a 200-day simple moving average of $35.76. The firm has a market cap of $16.53 billion, a PE ratio of 17.40, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. On average, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FLEX. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Barclays boosted their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Craig Hallum lifted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $43.67.

Institutional Investors Weigh In On Flex

Several hedge funds have recently modified their holdings of FLEX. Truist Financial Corp boosted its holdings in shares of Flex by 10.3% in the 2nd quarter. Truist Financial Corp now owns 77,648 shares of the technology company’s stock valued at $2,290,000 after purchasing an additional 7,236 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Flex by 22.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 9,783 shares of the technology company’s stock worth $327,000 after buying an additional 1,799 shares during the period. Gateway Investment Advisers LLC boosted its holdings in Flex by 153.6% in the third quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company’s stock valued at $3,724,000 after acquiring an additional 67,468 shares during the last quarter. Carnegie Investment Counsel grew its position in Flex by 1.8% during the third quarter. Carnegie Investment Counsel now owns 62,311 shares of the technology company’s stock valued at $2,083,000 after acquiring an additional 1,120 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the third quarter worth about $39,000. 94.30% of the stock is owned by institutional investors and hedge funds.

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.