Key Points
- Flex director Erin McSweeney sold 2,000 shares on May 22 at an average price of $132.51, totaling $265,020. After the sale, she still owned 9,512 shares, a 17.37% reduction in her position.
- McSweeney has been actively trimming her stake, with prior sales of 3,000 shares on May 14 and 2,500 shares on May 12 at higher prices.
- Flex shares were up 8.1% and recently traded at $143.24, near their 12-month high of $147.34. Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $112.80.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Erin Mcsweeney sold 2,000 shares of Flex stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.51, for a total transaction of $265,020.00. Following the sale, the director directly owned 9,512 shares of the company's stock, valued at $1,260,435.12. This trade represents a 17.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Erin Mcsweeney also recently made the following trade(s):
- On Thursday, May 14th, Erin Mcsweeney sold 3,000 shares of Flex stock. The shares were sold at an average price of $145.88, for a total transaction of $437,640.00.
- 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 transaction of $341,475.00.
Flex Trading Up 8.1%
Shares of NASDAQ:FLEX opened at $143.24 on Wednesday. The firm has a fifty day moving average of $93.62 and a two-hundred day moving average of $73.73. The firm has a market capitalization of $52.48 billion, a P/E ratio of 61.48, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. Flex Ltd. has a 12-month low of $41.43 and a 12-month high of $147.34. 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 (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, equities analysts expect that Flex Ltd. will post 4.15 EPS for the current fiscal year.
Institutional Trading of Flex
Institutional investors have recently made changes to their positions in the business. USA Financial Formulas acquired a new stake in shares of Flex during the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Flex during the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its position in shares of Flex by 57.0% during the 4th 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 position in shares of Flex by 238.3% during the 3rd 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 shares of Flex during the 4th quarter valued at about $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on FLEX. KeyCorp increased their target price on shares of Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Flex has an average rating of "Moderate Buy" and an average price target of $112.80.
Read Our Latest Stock Report on FLEX
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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