Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler Sells 1,275 Shares

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $39,907.50. Following the sale, the chief accounting officer now directly owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, June 4th, Daniel Wendler sold 1,670 shares of Flex stock. The shares were sold at an average price of $32.53, for a total value of $54,325.10.

Flex Trading Up 0.1 %

NASDAQ:FLEX opened at $31.62 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.52. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12. The business’s 50-day simple moving average is $30.13 and its 200 day simple moving average is $28.09. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.10 billion. As a group, sell-side analysts predict that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLEX. Ardsley Advisory Partners LP raised its stake in Flex by 11.5% during the third quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock valued at $10,617,000 after buying an additional 40,500 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Flex during the fourth quarter valued at approximately $2,909,000. abrdn plc raised its stake in Flex by 106.0% during the fourth quarter. abrdn plc now owns 146,524 shares of the technology company’s stock valued at $4,463,000 after buying an additional 75,387 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Flex by 21.8% during the fourth quarter. Vontobel Holding Ltd. now owns 201,902 shares of the technology company’s stock valued at $6,150,000 after buying an additional 36,082 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Flex by 9.3% during the third quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock valued at $61,836,000 after buying an additional 195,447 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLEX. JPMorgan Chase & Co. boosted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Monday. Barclays boosted their price objective on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Craig Hallum cut Flex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $27.00 in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Company Profile

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.