Insider Selling: Flex (NASDAQ:FLEX) CAO Sells $190,357.20 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,311 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the sale, the chief accounting officer directly owned 37,932 shares of the company’s stock, valued at approximately $5,507,726.40. This represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, June 17th, Daniel Wendler sold 3,890 shares of Flex stock. The stock was sold at an average price of $144.47, for a total value of $561,988.30.
• On Monday, June 15th, Daniel Wendler sold 1,579 shares of Flex stock. The shares were sold at an average price of $147.64, for a total value of $233,123.56.
• On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The stock was sold at an average price of $142.39, for a total value of $543,787.41.

Flex Trading Up 5.6%

Shares of FLEX stock traded up $8.20 on Monday, hitting $155.81. 7,414,337 shares of the stock traded hands, compared to its average volume of 8,906,334. The firm’s 50-day moving average price is $125.25 and its two-hundred day moving average price is $85.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a market capitalization of $57.09 billion, a PE ratio of 66.87, a PEG ratio of 0.78 and a beta of 1.63. Flex Ltd. has a twelve month low of $45.31 and a twelve month high of $166.86.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion during the quarter. As a group, analysts anticipate that Flex Ltd. will post 4.15 EPS for the current year.

Hedge Funds Weigh In On Flex

Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in shares of Flex by 9.3% during the 1st quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after purchasing an additional 109,992 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in Flex in the first quarter valued at approximately $4,949,000. Segall Bryant & Hamill LLC purchased a new stake in Flex in the first quarter valued at approximately $446,000. Western Wealth Management LLC acquired a new position in Flex during the first quarter worth $65,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Flex during the first quarter worth $5,891,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird set a $165.00 price target on shares of Flex in a research report on Thursday, May 7th. Stifel Nicolaus raised their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. The Goldman Sachs Group lifted their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays upped their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, KeyCorp increased their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.70.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.