Flex Ltd. (NASDAQ:FLEX) Insider Sells $235,110.83 in Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83. Following the transaction, the insider now owns 151,691 shares in the company, valued at $4,443,029.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kwang Hooi Tan also recently made the following trade(s):

• On Thursday, May 9th, Kwang Hooi Tan sold 14,599 shares of Flex stock. The stock was sold at an average price of $28.65, for a total transaction of $418,261.35.
• On Wednesday, March 13th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The shares were sold at an average price of $28.81, for a total transaction of $231,257.87.

Flex Stock Performance

Shares of NASDAQ:FLEX traded up $0.15 during trading on Thursday, hitting $28.71. 2,721,140 shares of the company traded hands, compared to its average volume of 5,025,926. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18. The business’s fifty day moving average is $28.54 and its 200-day moving average is $26.94. Flex Ltd. has a one year low of $20.83 and a one year high of $30.93. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of analyst reports. Barclays raised their target price on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com initiated coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Flex has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Hedge Funds Weigh In On Flex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL boosted its position in shares of Flex by 7.7% during the first quarter. Blair William & Co. IL now owns 12,378 shares of the technology company’s stock worth $354,000 after buying an additional 884 shares during the period. Cozad Asset Management Inc. boosted its position in shares of Flex by 0.3% during the first quarter. Cozad Asset Management Inc. now owns 323,361 shares of the technology company’s stock worth $9,251,000 after buying an additional 909 shares during the period. William Blair Investment Management LLC boosted its position in shares of Flex by 19.6% during the first quarter. William Blair Investment Management LLC now owns 8,595 shares of the technology company’s stock worth $246,000 after buying an additional 1,411 shares during the period. Headlands Technologies LLC acquired a new position in shares of Flex during the first quarter worth approximately $149,000. Finally, Sei Investments Co. boosted its position in shares of Flex by 10.3% during the first quarter. Sei Investments Co. now owns 1,367,356 shares of the technology company’s stock worth $39,120,000 after buying an additional 128,003 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.