Insider Selling: Flex (NASDAQ:FLEX) Director Sells $2,072,100.00 in Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles Stevens III sold 15,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. The trade was a 24.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Flex Stock Performance

Shares of Flex stock opened at $142.17 on Monday. The firm has a market capitalization of $52.27 billion, a P/E ratio of 61.02 and a beta of 1.46. 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 company has a 50 day moving average price of $74.45 and a 200 day moving average price of $67.03. Flex Ltd. has a 52 week low of $38.30 and a 52 week high of $142.59.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. The firm had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.96 billion. Flex had a net margin of 3.15% and a return on equity of 22.12%. Flex’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. Sell-side analysts expect that Flex Ltd. will post 3.31 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Robert W. Baird set a $165.00 price target on shares of Flex in a research report on Thursday. Raymond James Financial set a $80.00 price target on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus raised their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group raised their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.80.

Institutional Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. Vanguard Group Inc. grew its stake in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Norges Bank acquired a new stake in shares of Flex during the 4th quarter worth approximately $319,756,000. State Street Corp grew its stake in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Flex by 694,916.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock worth $159,573,000 after purchasing an additional 2,640,682 shares during the period. Finally, Polar Capital Holdings Plc grew its stake in shares of Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Flex

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.