Key Points
- Flex Director Charles Stevens III sold 15,000 shares on May 8 at an average price of $138.14, totaling about $2.07 million. After the sale, he still owned 45,426 shares, a 24.82% reduction in his stake.
- Flex reported strong quarterly results, beating estimates with EPS of $0.93 versus $0.87 expected and revenue of $7.48 billion versus $6.96 billion expected. Revenue rose 17.2% year over year.
- Analyst sentiment on FLEX remains positive, with nine Buy ratings and three Holds, and several firms recently raised price targets sharply. MarketBeat says the consensus rating is “Moderate Buy” with a target price of $112.80.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Charles Stevens III sold 15,000 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director owned 45,426 shares in the company, valued at $6,275,147.64. This represents a 24.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Flex Price Performance
Shares of FLEX stock opened at $142.17 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.88. The company has a market capitalization of $52.27 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.86 and a beta of 1.46. The company's 50-day simple moving average is $74.45 and its two-hundred day simple moving average is $67.03. Flex Ltd. has a one year low of $38.30 and a one year high of $142.59.
Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.06. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.96 billion. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, equities analysts anticipate that Flex Ltd. will post 3.31 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on FLEX shares. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Flex from $84.00 to $177.00 and gave the company a "buy" rating in a report on Thursday. Raymond James Financial set a $80.00 price objective on shares of Flex and gave the company an "outperform" rating in a report on Wednesday, February 4th. Stifel Nicolaus lifted their price objective on shares of Flex from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Robert W. Baird set a $165.00 price objective on shares of Flex in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $112.80.
View Our Latest Stock Report on Flex
Institutional Investors Weigh In On Flex
Several institutional investors have recently bought and sold shares of FLEX. USA Financial Formulas acquired a new stake in Flex in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its stake in 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 acquiring an additional 166 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock valued at $29,000 after acquiring an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the fourth quarter valued at approximately $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.
Flex Company Profile
(
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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