Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer Sells 7,037 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 7,037 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $220,258.10. Following the completion of the sale, the executive vice president now directly owns 171,344 shares of the company’s stock, valued at $5,363,067.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David Scott Offer also recently made the following trade(s):

• On Tuesday, June 11th, David Scott Offer sold 11,056 shares of Flex stock. The shares were sold at an average price of $32.20, for a total transaction of $356,003.20.
• On Tuesday, June 4th, David Scott Offer sold 11,354 shares of Flex stock. The shares were sold at an average price of $32.53, for a total transaction of $369,345.62.
• On Thursday, May 9th, David Scott Offer sold 34,097 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $976,879.05.

Flex Price Performance

Shares of FLEX opened at $31.62 on Wednesday. The stock has a market cap of $12.70 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. 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 fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm’s 50-day simple moving average is $30.13 and its two-hundred day simple moving average is $28.09.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners lifted its position in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares during the period. LSV Asset Management lifted its position in Flex by 0.7% during the fourth quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after purchasing an additional 51,068 shares during the period. Vanguard Group Inc. lifted its position in Flex by 2.4% during the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after purchasing an additional 141,580 shares during the period. Norges Bank bought a new position in Flex during the fourth quarter valued at approximately $165,000,000. Finally, Earnest Partners LLC lifted its position in Flex by 3.2% during the third quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock valued at $119,411,000 after purchasing an additional 138,979 shares during the period. Institutional investors own 94.30% of the company’s stock.

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.