Revathi Advaithi Sells 39,239 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 39,239 shares of Flex stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $147.96, for a total value of $5,805,802.44. Following the completion of the sale, the chief executive officer directly owned 566,283 shares in the company, valued at $83,787,232.68. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, May 22nd, Revathi Advaithi sold 83,500 shares of Flex stock. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00.
• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The shares were sold at an average price of $142.37, for a total value of $16,242,993.30.

Flex Stock Performance

NASDAQ:FLEX opened at $147.61 on Friday. The company has a market cap of $54.08 billion, a price-to-earnings ratio of 63.35, a PEG ratio of 0.75 and a beta of 1.64. Flex Ltd. has a 1 year low of $45.31 and a 1 year high of $166.86. The stock’s 50 day simple moving average is $122.15 and its two-hundred day simple moving average is $84.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Barclays increased their price target on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently made changes to their positions in FLEX. Vanguard Group Inc. boosted 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 purchased a new stake in Flex in the 4th quarter worth about $319,756,000. State Street Corp raised its position in Flex by 38.0% in 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 lifted its stake in Flex by 694,916.3% in the fourth 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 last quarter. Finally, Polar Capital Holdings Plc boosted its position in shares of Flex by 141.8% during 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 period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and recent price-target increases supporting the longer-term outlook. Flex stock page
• Positive Sentiment: Flex’s latest quarter showed solid operating performance, with $0.93 EPS and $7.48 billion in revenue, reinforcing confidence in the business. Flex stock page
• Neutral Sentiment: Several insider sales were disclosed, but the company said they were primarily tied to tax withholding on vested equity awards and, in one case, a 10b5-1 plan. SEC filing
• Negative Sentiment: The concentration of insider selling across senior leadership may still create short-term caution among investors, even if the transactions were routine. SEC filing

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.