Insider Selling: Flex Ltd (NASDAQ:FLEX) President Sells 9,343 Shares of Stock

Flex Ltd (NASDAQ:FLEX) President Douglas Britt sold 9,343 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $9.57, for a total transaction of $89,412.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Douglas Britt also recently made the following trade(s):

  • On Monday, June 17th, Douglas Britt sold 9,762 shares of Flex stock. The stock was sold at an average price of $8.97, for a total transaction of $87,565.14.
  • On Tuesday, June 11th, Douglas Britt sold 10,313 shares of Flex stock. The stock was sold at an average price of $9.61, for a total transaction of $99,107.93.

NASDAQ:FLEX opened at $9.49 on Thursday. The firm has a market cap of $4.78 billion, a PE ratio of 54.76, a P/E/G ratio of 0.58 and a beta of 1.85. Flex Ltd has a one year low of $6.74 and a one year high of $15.38. The firm’s fifty day moving average is $9.63. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

Flex (NASDAQ:FLEX) last released its earnings results on Tuesday, April 30th. The technology company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Flex had a net margin of 0.36% and a return on equity of 3.03%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, research analysts forecast that Flex Ltd will post 0.98 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in FLEX. Bank of Montreal Can raised its stake in Flex by 60.9% during the 4th quarter. Bank of Montreal Can now owns 20,423 shares of the technology company’s stock valued at $156,000 after purchasing an additional 7,727 shares during the last quarter. TD Asset Management Inc. acquired a new position in shares of Flex in the 4th quarter valued at $123,000. Comerica Bank raised its stake in shares of Flex by 43.0% in the 4th quarter. Comerica Bank now owns 52,154 shares of the technology company’s stock valued at $463,000 after buying an additional 15,678 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Flex by 20.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 57,908 shares of the technology company’s stock valued at $441,000 after buying an additional 9,633 shares in the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of Flex in the 4th quarter valued at $263,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.

A number of analysts have recently weighed in on FLEX shares. ValuEngine upgraded shares of Flex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. upgraded shares of Flex from a “neutral” rating to an “overweight” rating and set a $12.00 target price for the company in a research note on Wednesday, May 29th. Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Goldman Sachs Group upgraded shares of Flex from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, June 6th. Finally, BidaskClub cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.00.

Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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