Flex Ltd. (NASDAQ:FLEX) Insider Kwang Hooi Tan Sells 8,027 Shares

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the completion of the sale, the insider now owns 151,691 shares in the company, valued at approximately $4,443,029.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kwang Hooi Tan also recently made the following trade(s):

• On Thursday, May 9th, Kwang Hooi Tan sold 14,599 shares of Flex stock. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35.
• On Wednesday, March 13th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87.

Flex Trading Up 0.5 %

Shares of NASDAQ:FLEX traded up $0.15 during trading on Thursday, reaching $28.71. The company’s stock had a trading volume of 2,721,140 shares, compared to its average volume of 5,025,926. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12 month low of $20.83 and a 12 month high of $30.93. The firm’s 50 day simple moving average is $28.54 and its two-hundred day simple moving average is $26.94. The stock has a market capitalization of $12.09 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. raised its position in Flex by 3.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock worth $368,000 after purchasing an additional 497 shares during the period. Wahed Invest LLC raised its position in Flex by 8.1% in the 3rd quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock worth $191,000 after purchasing an additional 530 shares during the period. Park Avenue Securities LLC raised its position in Flex by 1.5% in the 3rd quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock worth $1,100,000 after purchasing an additional 589 shares during the period. Veracity Capital LLC raised its position in Flex by 7.8% in the 4th quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after purchasing an additional 599 shares during the period. Finally, Global Retirement Partners LLC raised its position in Flex by 8.4% in the 4th quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock worth $266,000 after purchasing an additional 679 shares during the period. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLEX. The Goldman Sachs Group upped their target price on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays upped their target price on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. StockNews.com initiated coverage on shares of Flex in a report on Wednesday, March 6th. They set a “hold” rating for the company. Finally, Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.83.

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.