Insider Selling: Flex (NASDAQ:FLEX) Insider Sells $332,363.20 in Stock

Flex Ltd. (NASDAQ:FLEXGet Free Report) insider Michael Hartung sold 2,755 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total transaction of $332,363.20. Following the sale, the insider owned 243,175 shares of the company’s stock, valued at $29,336,632. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flex Stock Performance

Shares of FLEX stock opened at $110.45 on Friday. The stock’s 50-day moving average price is $130.99 and its 200 day moving average price is $105.60. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $40.80 billion, a PE ratio of 42.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. Flex Ltd. has a 52-week low of $49.36 and a 52-week high of $166.86.

Flex (NASDAQ:FLEXGet Free Report) last posted its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%.The company had revenue of $7.93 billion during the quarter. As a group, equities research analysts forecast that Flex Ltd. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of analyst reports. Robert W. Baird set a $142.00 price objective on shares of Flex in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Barclays reduced their target price on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, KeyCorp increased their price target 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 investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.20.

Get Our Latest Report on Flex

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLEX. TD Waterhouse Canada Inc. lifted its holdings in Flex by 7.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,449 shares of the technology company’s stock valued at $223,000 after acquiring an additional 100 shares during the period. JSF Financial LLC grew its stake in shares of Flex by 0.6% during the 1st 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 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 purchasing an additional 125 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Flex by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after purchasing an additional 163 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Flex

(Get Free Report)

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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Insider Buying and Selling by Quarter for Flex (NASDAQ:FLEX)

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