Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler Sells 4,953 Shares

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 4,953 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total value of $212,335.11. Following the transaction, the chief accounting officer now directly owns 44,584 shares of the company’s stock, valued at $1,911,316.08. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Daniel Wendler also recently made the following trade(s):

• On Tuesday, June 3rd, Daniel Wendler sold 1,619 shares of Flex stock. The shares were sold at an average price of $42.91, for a total value of $69,471.29.
• On Tuesday, May 13th, Daniel Wendler sold 4,502 shares of Flex stock. The shares were sold at an average price of $41.99, for a total value of $189,038.98.

Flex Stock Performance

Shares of FLEX stock opened at $42.77 on Thursday. The business has a 50 day simple moving average of $36.06 and a 200 day simple moving average of $38.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On Flex

Large investors have recently modified their holdings of the stock. Invst LLC purchased a new stake in shares of Flex in the first quarter valued at $615,000. Advisors Capital Management LLC raised its holdings in Flex by 8.4% during the first quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company’s stock valued at $252,000 after buying an additional 589 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Flex during the first quarter valued at about $66,000. Bayforest Capital Ltd increased its stake in shares of Flex by 369.9% in the first quarter. Bayforest Capital Ltd now owns 14,521 shares of the technology company’s stock worth $480,000 after purchasing an additional 11,431 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Flex by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock worth $103,714,000 after purchasing an additional 453,455 shares during the period. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

FLEX has been the subject of several recent research reports. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Wall Street Zen raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. KeyCorp increased their price objective on Flex from $35.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their price objective on Flex from $53.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $45.33.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.