Flex (NASDAQ:FLEX) EVP Sells $5,079,030.00 in Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. This trade represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Scott Offer also recently made the following trade(s):

• On Monday, May 11th, David Scott Offer sold 22,212 shares of Flex stock. The stock was sold at an average price of $142.40, for a total value of $3,162,988.80.

Flex Stock Performance

Shares of Flex stock opened at $151.92 on Monday. Flex Ltd. has a one year low of $42.60 and a one year high of $166.86. The company has a 50-day simple moving average of $107.57 and a two-hundred day simple moving average of $78.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The company has a market capitalization of $55.66 billion, a PE ratio of 65.20, a P/E/G ratio of 0.80 and a beta of 1.63.

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

Hedge Funds Weigh In On Flex

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Flex by 196.1% during the fourth 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 in the last quarter. Norges Bank acquired a new stake in shares of Flex during the fourth quarter worth about $319,756,000. State Street Corp lifted its stake in Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after buying an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Flex by 694,916.3% in 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 valued at $159,573,000 after acquiring an additional 2,640,682 shares during the period. Finally, Polar Capital Holdings Plc raised its holdings in shares of Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after buying an additional 2,165,780 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLEX has been the topic of a number of recent research reports. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Barclays lifted their target price on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Stifel Nicolaus upped their price objective on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

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.