Flex Ltd. (NASDAQ:FLEX – Get Free Report) EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Scott Offer also recently made the following trade(s):
- On Monday, May 11th, David Scott Offer sold 22,212 shares of Flex stock. The shares were sold at an average price of $142.40, for a total transaction of $3,162,988.80.
Flex Trading Down 4.8%
FLEX opened at $151.92 on Friday. The stock has a market capitalization of $55.66 billion, a PE ratio of 65.20, a P/E/G ratio of 0.84 and a beta of 1.64. The firm’s fifty day moving average price is $107.57 and its 200 day moving average price is $78.73. 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 12-month low of $42.60 and a 12-month high of $166.86.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus upped their price target on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. 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 report on Thursday, April 16th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, KeyCorp increased their target price on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.
Read Our Latest Report on FLEX
Trending Headlines about Flex
Here are the key news stories impacting Flex this week:
- Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
- Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
- Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
- Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title
Institutional Trading of Flex
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Norges Bank bought a new position in shares of Flex during the fourth quarter worth about $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Flex during the fourth quarter worth about $2,497,000. Sequoia Financial Advisors LLC grew its position in shares of Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after acquiring an additional 19,270 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Flex during the fourth quarter worth about $2,056,000. 94.30% of the stock is owned by institutional investors and hedge funds.
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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