Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler Sells 1,619 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 1,619 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $42.91, for a total transaction of $69,471.29. Following the sale, the chief accounting officer now owns 37,057 shares in the company, valued at approximately $1,590,115.87. The trade was a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 4th, Daniel Wendler sold 4,953 shares of Flex stock. The stock was sold at an average price of $42.87, for a total transaction of $212,335.11.
• On Tuesday, May 13th, Daniel Wendler sold 4,502 shares of Flex stock. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98.

Flex Trading Down 1.0%

Shares of Flex stock opened at $42.77 on Thursday. The stock has a market capitalization of $15.97 billion, a PE ratio of 17.25, a P/E/G ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The company’s fifty day simple moving average is $36.06 and its 200-day simple moving average is $38.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Institutional Trading of Flex

Large investors have recently made changes to their positions in the business. United Services Automobile Association bought a new stake in shares of Flex in the 4th quarter worth about $982,000. Brandywine Global Investment Management LLC increased its holdings in shares of Flex by 219.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company’s stock worth $5,119,000 after buying an additional 91,571 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Flex in the 4th quarter worth about $7,864,000. Raymond James Financial Inc. bought a new stake in shares of Flex in the 4th quarter worth about $32,293,000. Finally, American Century Companies Inc. increased its holdings in shares of Flex by 19.7% in the 4th quarter. American Century Companies Inc. now owns 693,846 shares of the technology company’s stock worth $26,637,000 after buying an additional 114,350 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group dropped their target price on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Wall Street Zen upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Finally, KeyCorp lifted their price target on shares of Flex from $35.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Buy” and a consensus price target of $45.33.

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.