Flex Ltd. (NASDAQ:FLEX) Insider Sells $418,261.35 in Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 14,599 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $418,261.35. Following the sale, the insider now owns 163,656 shares of the company’s stock, valued at approximately $4,688,744.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, May 7th, Kwang Hooi Tan sold 8,027 shares of Flex stock. The shares were sold at an average price of $29.29, for a total value of $235,110.83.
• 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 value of $231,257.87.

Flex Price Performance

Shares of NASDAQ:FLEX traded up $0.15 during trading on Thursday, reaching $28.71. 2,721,140 shares of the company’s stock traded hands, compared to its average volume of 5,025,926. Flex Ltd. has a fifty-two week low of $20.83 and a fifty-two week 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. The firm has a market cap of $12.09 billion, a PE ratio of 12.48, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $26.94.

Analysts Set New Price Targets

Several research firms recently issued reports on FLEX. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group increased their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their price target on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com started coverage on Flex in a research report on Wednesday, March 6th. They set a “hold” rating on the stock. Finally, Barclays increased their price target on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $32.83.

Institutional Investors Weigh In On Flex

A number of institutional investors have recently modified their holdings of the business. Troluce Capital Advisors LLC lifted its stake in Flex by 101.2% in the 3rd quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock valued at $14,858,000 after buying an additional 48,097,992 shares in the last quarter. Norges Bank purchased a new position in Flex in the 4th quarter valued at about $165,000,000. Schonfeld Strategic Advisors LLC lifted its stake in Flex by 211.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock valued at $38,032,000 after buying an additional 956,676 shares in the last quarter. California Public Employees Retirement System lifted its stake in Flex by 63.9% in the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after buying an additional 944,928 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Flex by 57.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock valued at $48,985,000 after buying an additional 665,076 shares in the last quarter. 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.