Flex Ltd. (NASDAQ:FLEX – Get Free Report) COO Kwang Hooi Tan sold 10,540 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the completion of the sale, the chief operating officer owned 235,602 shares of the company’s stock, valued at approximately $34,873,808.04. This represents a 4.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Kwang Hooi Tan also recently made the following trade(s):
- On Tuesday, May 26th, Kwang Hooi Tan sold 17,500 shares of Flex stock. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00.
- On Monday, May 11th, Kwang Hooi Tan sold 26,175 shares of Flex stock. The stock was sold at an average price of $142.37, for a total transaction of $3,726,534.75.
Flex Stock Down 2.6%
Shares of NASDAQ FLEX traded down $3.80 during trading hours on Wednesday, hitting $143.13. 7,319,362 shares of the stock were exchanged, compared to its average volume of 5,230,561. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market cap of $52.44 billion, a PE ratio of 61.43, a PEG ratio of 0.77 and a beta of 1.64. The firm has a fifty day moving average price of $120.56 and a 200-day moving average price of $83.95. Flex Ltd. has a 12 month low of $45.31 and a 12 month high of $166.86.
Analyst Ratings Changes
A number of research analysts have issued reports on FLEX shares. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. The Goldman Sachs Group upped their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.
Get Our Latest Stock Analysis on Flex
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. JSF Financial LLC boosted its holdings in shares of Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 115 shares during the last quarter. Glenview Trust Co boosted its holdings in shares of Flex by 3.4% in the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after acquiring an additional 125 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after acquiring an additional 163 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Flex by 7.9% during the first quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.
About Flex
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.
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