Flex (NASDAQ:FLEX) CAO Sells $719,700.00 in Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the sale, the chief accounting officer directly owned 27,619 shares in the company, valued at approximately $1,987,739.43. The trade was a 26.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $68.80 on Monday. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $72.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The stock has a fifty day moving average price of $61.55 and a two-hundred day moving average price of $54.87. The firm has a market cap of $25.44 billion, a P/E ratio of 30.44, a PEG ratio of 1.83 and a beta of 1.26.

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Flex during the 2nd quarter valued at about $291,362,000. State Street Corp boosted its holdings in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. Geode Capital Management LLC grew its position in Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after purchasing an additional 2,459,511 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Flex by 118.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after buying an additional 1,522,308 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Flex by 5,973.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock valued at $79,132,000 after buying an additional 1,342,569 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLEX. Bank of America boosted their price target on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Barclays raised their target price on shares of Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Argus set a $85.00 price target on Flex in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $65.88.

Flex Company Profile

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.