Flex Ltd. (NASDAQ:FLEX) EVP Sells $976,879.05 in Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 34,097 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $976,879.05. Following the transaction, the executive vice president now owns 145,692 shares of the company’s stock, valued at $4,174,075.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, February 20th, David Scott Offer sold 75,000 shares of Flex stock. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00.

Flex Price Performance

NASDAQ FLEX traded up $0.15 during trading on Thursday, hitting $28.71. 2,721,140 shares of the stock traded hands, compared to its average volume of 5,025,926. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $12.09 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Flex Ltd. has a 12-month low of $20.83 and a 12-month high of $30.93. The firm has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $26.94.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FLEX shares. JPMorgan Chase & Co. raised their price objective 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. The Goldman Sachs Group boosted their price objective on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Barclays lifted their target price on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $27.00 in a research note on Thursday, May 2nd. Finally, StockNews.com started coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Institutional Investors Weigh In On Flex

Several large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC purchased a new position in shares of Flex in the 3rd quarter worth $30,000. Richardson Financial Services Inc. bought a new position in shares of Flex in the 4th quarter valued at about $34,000. CWM LLC grew its position in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares in the last quarter. Fifth Third Bancorp raised its position in Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Flex in the 4th quarter valued at approximately $75,000. 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.