Flex (NASDAQ:FLEX) Director Erin Mcsweeney Sells 3,000 Shares

Flex Ltd. (NASDAQ:FLEX) Director Erin Mcsweeney sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $145.88, for a total value of $437,640.00. Following the sale, the director directly owned 11,512 shares of the company’s stock, valued at $1,679,370.56. This represents a 20.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Erin Mcsweeney also recently made the following trade(s):

• On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The shares were sold at an average price of $136.59, for a total value of $341,475.00.

Flex Trading Down 4.0%

Shares of Flex stock opened at $137.86 on Friday. The business has a fifty day simple moving average of $83.80 and a two-hundred day simple moving average of $70.32. Flex Ltd. has a 1 year low of $40.15 and a 1 year high of $147.34. The company has a market capitalization of $50.69 billion, a price-to-earnings ratio of 59.17, a P/E/G ratio of 0.76 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FLEX. Vanguard Group Inc. increased its position in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Allianz Asset Management GmbH increased its position in shares of Flex by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock worth $138,749,000 after purchasing an additional 360,553 shares during the period. Dynasty Wealth Management LLC increased its position in shares of Flex by 80.1% in the third quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company’s stock worth $2,528,000 after purchasing an additional 19,388 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Flex in the third quarter worth $1,460,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Flex in the fourth quarter worth $2,497,000. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLEX. Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.80.

Flex Company Profile

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.