Flex (NASDAQ:FLEX) Director Michael Hurlston Sells 10,000 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Michael Hurlston sold 10,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director directly owned 58,561 shares in the company, valued at $3,396,538. This trade represents a 14.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flex Stock Performance

Shares of Flex stock opened at $58.40 on Thursday. The business has a 50-day simple moving average of $60.19 and a 200 day simple moving average of $52.96. Flex Ltd. has a one year low of $25.11 and a one year high of $67.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.52 and a beta of 1.24.

Analysts Set New Price Targets

FLEX has been the topic of a number of recent research reports. Bank of America increased their target price on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. KeyCorp upped their price objective on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Barclays upped 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. Finally, Argus set a $85.00 price target on Flex in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.75.

Institutional Investors Weigh In On Flex

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC purchased a new stake in Flex in the fourth quarter worth $260,000. CWM LLC increased its holdings in Flex by 73.3% in the 1st quarter. CWM LLC now owns 1,281 shares of the technology company’s stock worth $42,000 after acquiring an additional 542 shares during the last quarter. AE Wealth Management LLC bought a new stake in Flex in the 1st quarter valued at about $233,000. Assetmark Inc. lifted its holdings in Flex by 15.0% during the first quarter. Assetmark Inc. now owns 20,935 shares of the technology company’s stock valued at $693,000 after purchasing an additional 2,738 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in Flex by 23.5% during the first quarter. HB Wealth Management LLC now owns 7,065 shares of the technology company’s stock worth $234,000 after purchasing an additional 1,343 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

About Flex

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.