Key Points
- Flex director Erin McSweeney sold 3,000 shares on May 14 at an average price of $145.88, totaling about $437,640. After the sale, she still held 11,512 shares, a 20.67% reduction in her stake.
- McSweeney also sold 2,500 shares earlier in the week on May 12 at an average price of $136.59, bringing in about $341,475. The article highlights a pattern of recent insider selling.
- Flex has seen strong stock performance and mixed valuation signals, with shares near their 52-week high of $147.34 and well above both its 50-day and 200-day moving averages. Analysts currently have a consensus Moderate Buy rating with a target price of $112.80, though some firms have raised targets as high as $165.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Erin Mcsweeney sold 3,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $145.88, for a total value of $437,640.00. Following the completion of the sale, the director directly owned 11,512 shares in the company, valued at $1,679,370.56. This trade represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Erin Mcsweeney also recently made the following trade(s):
- On Tuesday, May 12th, Erin Mcsweeney sold 2,500 shares of Flex stock. The shares were sold at an average price of $136.59, for a total value of $341,475.00.
Flex Stock Performance
NASDAQ:FLEX opened at $137.86 on Friday. The stock's 50-day simple moving average is $83.80 and its 200 day simple moving average is $70.32. The firm has a market capitalization of $50.69 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex Ltd. has a twelve month low of $40.15 and a twelve month high of $147.34.
Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The business had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.
Institutional Trading of Flex
A number of hedge funds have recently made changes to their positions in FLEX. USA Financial Formulas acquired a new stake in shares of Flex during the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Flex during the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its stake in shares of Flex by 57.0% during 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 in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock valued at $29,000 after purchasing an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Flex in the fourth quarter worth approximately $42,000. 94.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on FLEX shares. Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. lifted their price target on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Robert W. Baird set a $165.00 price target on Flex in a research note on Thursday, May 7th. Finally, Raymond James Financial set a $80.00 price target on Flex and gave the company an "outperform" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.80.
Read Our Latest Stock Analysis on FLEX
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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