Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom Sells 7,895 Shares

Flex Ltd. (NASDAQ:FLEX) CFO Paul Lundstrom sold 7,895 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $247,113.50. Following the sale, the chief financial officer now owns 346,943 shares of the company’s stock, valued at approximately $10,859,315.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Paul Lundstrom also recently made the following trade(s):

• On Wednesday, June 12th, Paul Lundstrom sold 29,041 shares of Flex stock. The shares were sold at an average price of $32.13, for a total transaction of $933,087.33.
• On Monday, June 10th, Paul Lundstrom sold 200,000 shares of Flex stock. The shares were sold at an average price of $32.46, for a total transaction of $6,492,000.00.
• On Tuesday, June 4th, Paul Lundstrom sold 13,725 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $446,474.25.
• On Thursday, May 9th, Paul Lundstrom sold 35,733 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45.

Flex Price Performance

Flex stock opened at $31.62 on Wednesday. The stock has a market cap of $12.70 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a fifty day simple moving average of $30.13 and a 200-day simple moving average of $28.09. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLEX. The Goldman Sachs Group lifted their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. Finally, Barclays raised their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently bought and sold shares of FLEX. HighTower Advisors LLC raised its stake in Flex by 27.3% during the 3rd quarter. HighTower Advisors LLC now owns 132,889 shares of the technology company’s stock worth $3,585,000 after acquiring an additional 28,489 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Flex by 17.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,074 shares of the technology company’s stock worth $676,000 after acquiring an additional 3,712 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Flex in the third quarter valued at $1,592,000. Envestnet Asset Management Inc. increased its stake in Flex by 57.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,106,983 shares of the technology company’s stock valued at $29,866,000 after purchasing an additional 401,851 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new position in Flex in the third quarter valued at $2,382,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.