Kwang Hooi Tan Sells 12,626 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEXGet Free Report) insider Kwang Hooi Tan sold 12,626 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $410,723.78. Following the sale, the insider now owns 151,030 shares of the company’s stock, valued at $4,913,005.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 stock was sold at an average price of $28.65, for a total transaction of $418,261.35.
  • On Tuesday, May 7th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83.
  • 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 Down 0.9 %

Shares of NASDAQ:FLEX opened at $31.97 on Friday. The firm has a fifty day moving average of $29.68 and a two-hundred day moving average of $27.79. The firm has a market capitalization of $12.84 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEXGet Free Report) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. On average, equities analysts expect that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Flex by 0.6% in the 3rd quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after purchasing an additional 247,024 shares during the last quarter. Boston Partners lifted its stake in shares of Flex by 113.8% in the 1st 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 last quarter. LSV Asset Management lifted its stake in shares of Flex by 0.7% in the 4th 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 last quarter. Vanguard Group Inc. lifted its stake in shares of Flex by 2.4% in the 1st 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 last quarter. Finally, Norges Bank acquired a new stake in shares of Flex in the 4th quarter valued at $165,000,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Craig Hallum downgraded 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. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. upped 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. Finally, Barclays upped their price target 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.83.

View Our Latest Stock Report on FLEX

About Flex

(Get Free Report)

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.

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