Kwang Hooi Tan Sells 17,500 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at approximately $32,425,149.99. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kwang Hooi Tan also recently made the following trade(s):

• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The stock was sold at an average price of $142.37, for a total value of $3,726,534.75.
• On Monday, March 9th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00.

Flex Stock Up 1.8%

Shares of NASDAQ:FLEX opened at $145.79 on Thursday. The business’s 50 day moving average is $95.25 and its 200 day moving average is $74.31. The stock has a market cap of $53.41 billion, a P/E ratio of 62.57, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46. Flex Ltd. has a 52-week low of $41.43 and a 52-week high of $147.34. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter. Sell-side analysts predict that Flex Ltd. will post 4.15 EPS for the current year.

More Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Investors continue to react positively to Flex’s AI infrastructure spin-off plan and stronger outlook, which has helped re-rate the shares higher amid optimism around data-center demand. Flex rallies 6.2% as AI infrastructure spin-off plan and upbeat outlook continue to re-rate shares
• Neutral Sentiment: CEO Revathi Advaithi sold 83,500 shares in a pre-arranged Rule 10b5-1 transaction, which is notable but may be viewed as routine insider selling rather than a change in business outlook.
• Neutral Sentiment: Director Erin McSweeney sold 2,000 shares, following prior sales earlier in the month; the repeated insider selling may create some caution, but the amount is relatively small versus Flex’s large market value.
• Negative Sentiment: Multiple insider sales over the past several months, with no reported insider purchases, could pressure investor sentiment if traders interpret the pattern as executives taking profits after a sharp run-up.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FLEX shares. Raymond James Financial set a $80.00 target price on Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group upped their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.80.

Institutional Trading of Flex

A number of hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new stake in Flex during the first quarter worth $446,000. Western Wealth Management LLC purchased a new stake in Flex during the first quarter worth $65,000. Intrinsic Edge Capital Management LLC purchased a new stake in Flex during the first quarter worth $5,891,000. Amundi lifted its holdings in Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock worth $97,825,000 after buying an additional 200,553 shares during the period. Finally, Talon Private Wealth LLC purchased a new stake in Flex during the first quarter worth $639,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.