Key Points
- Flex EVP David Scott Offer sold 33,000 shares on June 5 at an average price of $153.91, for about $5.08 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and his stake fell by roughly 31% to 73,471 shares.
- Offer also sold 22,212 shares on May 11 at an average price of $142.40, showing a pattern of insider selling in recent weeks. While routine under a trading plan, such moves can still weigh on investor sentiment.
- Despite the insider sale, Flex continues to draw bullish analyst attention, with several firms raising price targets and the stock trading near its 52-week high. The company also reported strong quarterly results, including $0.93 EPS and $7.48 billion in revenue.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) EVP David Scott Offer sold 33,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 73,471 shares of the company's stock, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 stock was sold at an average price of $142.40, for a total transaction of $3,162,988.80.
Flex Stock Down 4.8%
Flex stock opened at $151.92 on Friday. The company has a 50-day simple moving average of $107.57 and a 200-day simple moving average of $78.73. The firm has a market capitalization of $55.66 billion, a P/E ratio of 65.20, a P/E/G ratio of 0.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex Ltd. has a one year low of $42.60 and a one year high of $166.86.
Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.
Analysts Set New Price Targets
FLEX has been the subject of a number of recent analyst reports. 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 report on Thursday, May 7th. Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Zacks Research upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. 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 report on Thursday, April 16th. Finally, Barclays increased their target price on shares of Flex from $174.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.70.
Check Out Our Latest Stock Analysis on FLEX
Key Stories Impacting 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
Hedge Funds Weigh In On Flex
Several hedge funds have recently made changes to their positions in FLEX. USA Financial Formulas acquired a new position in shares of Flex in the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock worth $29,000 after purchasing an additional 355 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Flex in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 94.30% of the company's stock.
Flex Company Profile
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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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