Insider Selling: Flex Ltd. (NASDAQ:FLEX) Insider Sells 8,028 Shares of Stock

by · The Cerbat Gem

Flex Ltd. (NASDAQ:FLEX – Get Free Report) insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Flex Trading Up 3.2 %

Shares of Flex stock opened at $35.78 on Thursday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $36.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.01 and a beta of 1.09. The stock has a 50 day moving average of $32.61 and a 200 day moving average of $31.08.

Hedge Funds Weigh In On Flex

Hedge funds have recently modified their holdings of the business. Boston Partners raised its holdings in shares of Flex by 113.8% in the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after buying an additional 10,201,162 shares during the period. Merewether Investment Management LP purchased a new stake in Flex during the 2nd quarter worth about $72,808,000. Westfield Capital Management Co. LP acquired a new position in Flex in the first quarter valued at approximately $51,543,000. Point72 Asset Management L.P. boosted its holdings in shares of Flex by 1,242.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock valued at $21,495,000 after buying an additional 792,700 shares in the last quarter. Finally, TCW Group Inc. grew its position in shares of Flex by 48.1% in the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after buying an additional 556,286 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLEX has been the topic of a number of research reports. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $39.00 in a research report on Thursday, July 25th. KeyCorp initiated coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays upped their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $39.17.

Get Our Latest Analysis on Flex

About Flex

(Get Free Report)

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.

See Also