Insider Selling: Flex Ltd. (NASDAQ:FLEX) Director Sells 13,157 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Flex Stock Performance

NASDAQ:FLEX opened at $40.09 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $15.55 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $40.29. The stock’s 50-day simple moving average is $33.39 and its 200 day simple moving average is $31.57.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flex has an average rating of “Buy” and a consensus target price of $40.83.

Hedge Funds Weigh In On Flex

A number of institutional investors have recently added to or reduced their stakes in FLEX. Boston Partners grew its stake in shares of Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after buying an additional 10,201,162 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Flex by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after purchasing an additional 127,688 shares in the last quarter. Vanguard Group Inc. raised its position in Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after purchasing an additional 141,580 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Flex during the second quarter valued at about $72,808,000. Finally, Brandes Investment Partners LP grew its holdings in shares of Flex by 8.3% during the second quarter. Brandes Investment Partners LP now owns 2,055,170 shares of the technology company’s stock worth $60,592,000 after purchasing an additional 157,516 shares during 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.