Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi Sells 25,593 Shares

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 25,593 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $43.48, for a total value of $1,112,783.64. Following the completion of the sale, the chief executive officer now owns 1,400,777 shares in the company, valued at $60,905,783.96. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, June 12th, Revathi Advaithi sold 132,000 shares of Flex stock. The stock was sold at an average price of $43.70, for a total value of $5,768,400.00.
• On Thursday, June 5th, Revathi Advaithi sold 181,028 shares of Flex stock. The stock was sold at an average price of $42.91, for a total transaction of $7,767,911.48.
• On Tuesday, June 3rd, Revathi Advaithi sold 59,150 shares of Flex stock. The shares were sold at an average price of $42.90, for a total transaction of $2,537,535.00.
• On Tuesday, May 13th, Revathi Advaithi sold 164,700 shares of Flex stock. The shares were sold at an average price of $41.99, for a total transaction of $6,915,753.00.
• On Wednesday, May 7th, Revathi Advaithi sold 120,280 shares of Flex stock. The stock was sold at an average price of $38.09, for a total value of $4,581,465.20.

Flex Price Performance

FLEX opened at $43.13 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $38.29. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Invst LLC bought a new stake in shares of Flex in the 1st quarter valued at about $615,000. Advisors Capital Management LLC increased its position in Flex by 8.4% during the 1st quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company’s stock valued at $252,000 after buying an additional 589 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Flex during the first quarter worth about $66,000. Bayforest Capital Ltd boosted its stake in Flex by 369.9% in the 1st quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company’s stock worth $480,000 after purchasing an additional 11,431 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Flex by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock worth $103,714,000 after purchasing an additional 453,455 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FLEX shares. Barclays raised their price objective on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group reduced their target price on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wall Street Zen raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 28th. Finally, KeyCorp reiterated an “overweight” rating on shares of Flex in a report on Tuesday, June 3rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $46.00.

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.