Insider Selling: Flex (NASDAQ:FLEX) COO Sells 26,657 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) COO Kwang Hooi Tan sold 26,657 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the sale, the chief operating officer owned 257,527 shares in the company, valued at approximately $37,207,500.96. This represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, June 18th, Kwang Hooi Tan sold 8,981 shares of Flex stock. The shares were sold at an average price of $145.19, for a total transaction of $1,303,951.39.
• On Monday, June 15th, Kwang Hooi Tan sold 10,540 shares of Flex stock. The shares were sold at an average price of $148.02, for a total transaction of $1,560,130.80.
• On Tuesday, May 26th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00.
• On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The shares were sold at an average price of $142.37, for a total value of $3,726,534.75.

Flex Price Performance

NASDAQ:FLEX traded up $8.20 during trading hours on Monday, reaching $155.81. The company had a trading volume of 7,414,337 shares, compared to its average volume of 8,906,334. The firm has a market capitalization of $57.09 billion, a PE ratio of 66.87, a PEG ratio of 0.78 and a beta of 1.63. 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 stock has a 50-day moving average of $125.25 and a two-hundred day moving average of $85.91. Flex Ltd. has a one year low of $45.31 and a one year high of $166.86.

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

Analyst Ratings Changes

FLEX has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. KeyCorp raised their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays increased their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JSF Financial LLC lifted its position in Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after purchasing an additional 115 shares during the period. Glenview Trust Co increased its holdings in Flex by 3.4% in the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after buying an additional 125 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after buying an additional 163 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after acquiring an additional 166 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Flex by 7.9% during the first quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after purchasing an additional 178 shares during the last quarter. 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.