Key Points
- Flex EVP David Scott Offer sold 18,750 shares on June 16 at an average price of $147.91, generating about $2.77 million. The filing says the trade was part of a pre-arranged Rule 10b5-1 plan and was made to cover tax withholding tied to equity awards.
- Insider selling has been widespread at Flex recently, with the CEO, CFO, COO and other executives also reporting stock sales. The article frames these transactions as mostly related to equity-compensation tax obligations rather than a change in business outlook.
- Analysts remain broadly positive on Flex despite the insider sales, with several firms recently raising price targets. The stock has also risen sharply over the past year, and the company reported strong quarterly results with $0.93 EPS and $7.48 billion in revenue.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 1,579 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $147.64, for a total transaction of $233,123.56. Following the completion of the sale, the chief accounting officer owned 33,417 shares of the company's stock, valued at $4,933,685.88. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Daniel Wendler also recently made the following trade(s):
- On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The shares were sold at an average price of $142.39, for a total transaction of $543,787.41.
Flex Stock Performance
Flex stock opened at $143.13 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. Flex Ltd. has a 1-year low of $45.31 and a 1-year high of $166.86. The company's 50-day moving average is $120.56 and its 200 day moving average is $83.95.
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 business had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. Research analysts forecast that Flex Ltd. will post 4.15 EPS for the current year.
Key Stories Impacting Flex
Here are the key news stories impacting Flex this week:
- Positive Sentiment: Analyst coverage remains constructive, with several firms raising price targets in recent weeks and the stock still carrying a “Moderate Buy” consensus, which supports the longer-term outlook. Flex stock page
- Neutral Sentiment: Insiders, including CEO Revathi Advaithi, CFO Kevin Krumm, COO Kwang Hooi Tan, and EVP David Scott Offer, sold shares in recent days, but the filings say the sales were made to cover tax withholding obligations tied to equity awards and, in one case, under a pre-arranged 10b5-1 plan. SEC filing
- Neutral Sentiment: Flex continues to show solid operating fundamentals, with its most recent quarter delivering $0.93 EPS on $7.48 billion in revenue, which helps offset some of the sentiment impact from insider selling. Flex stock page
- Negative Sentiment: The biggest drag on sentiment is the cluster of insider sales across senior leadership, which can signal caution to traders even when the transactions are explained as non-discretionary. SEC filing
Institutional Investors Weigh In On Flex
Several institutional investors have recently bought and sold shares of the company. USA Financial Formulas acquired a new position in shares of Flex during the fourth quarter worth $28,000. Parkside Financial Bank & Trust boosted its position 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 in the last quarter. Frazier Financial Advisors LLC purchased a new position in Flex during the 4th quarter worth $28,000. CENTRAL TRUST Co increased its position in 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 buying an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in Flex in the fourth quarter valued at about $42,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
FLEX has been the subject of several research reports. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. The Goldman Sachs Group upped their price target on shares of Flex from $84.00 to $177.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Finally, Zacks Research raised Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. One research 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 company. According to MarketBeat, Flex presently has an average rating of "Moderate Buy" and an average price target of $115.70.
View Our Latest Research 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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