Flex Ltd. (NASDAQ:FLEX – Get Free Report) EVP David Scott Offer sold 18,750 shares of Flex stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $147.91, for a total transaction of $2,773,312.50. Following the completion of the transaction, the executive vice president directly owned 54,721 shares in the company, valued at approximately $8,093,783.11. This represents a 25.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
David Scott Offer also recently made the following trade(s):
- On Monday, June 15th, David Scott Offer sold 7,223 shares of Flex stock. The stock was sold at an average price of $148.01, for a total transaction of $1,069,076.23.
- On Friday, June 5th, David Scott Offer sold 33,000 shares of Flex stock. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00.
- On Monday, May 11th, David Scott Offer sold 22,212 shares of Flex stock. The stock was sold at an average price of $142.40, for a total transaction of $3,162,988.80.
Flex Stock Up 3.1%
FLEX stock opened at $147.61 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a 52-week low of $45.31 and a 52-week high of $166.86. The company has a 50-day moving average of $122.15 and a two-hundred day moving average of $84.57. The stock has a market capitalization of $54.08 billion, a price-to-earnings ratio of 63.35, a price-to-earnings-growth ratio of 0.75 and a beta of 1.64.
Analyst Upgrades and Downgrades
FLEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. KeyCorp boosted their target price on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Barclays increased their price target on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group raised their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.
Read Our Latest Stock Report on FLEX
Key Flex News
Here are the key news stories impacting Flex this week:
- Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and recent price-target increases supporting the longer-term outlook. Flex stock page
- Positive Sentiment: Flex’s latest quarter showed solid operating performance, with $0.93 EPS and $7.48 billion in revenue, reinforcing confidence in the business. Flex stock page
- Neutral Sentiment: Several insider sales were disclosed, but the company said they were primarily tied to tax withholding on vested equity awards and, in one case, a 10b5-1 plan. SEC filing
- Negative Sentiment: The concentration of insider selling across senior leadership may still create short-term caution among investors, even if the transactions were routine. SEC filing
Institutional Trading of Flex
Institutional investors and hedge funds have recently modified their holdings of the company. JSF Financial LLC lifted its position in Flex by 0.6% in the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after purchasing an additional 115 shares during the period. Glenview Trust Co increased its holdings in 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 buying an additional 125 shares during the period. Resonant Capital Advisors LLC raised its stake 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 buying an additional 163 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake 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 purchasing an additional 178 shares during the period. 94.30% of the stock is currently owned by institutional investors.
Flex Company Profile
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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