Revathi Advaithi Sells 161,052 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 161,052 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the sale, the chief executive officer now owns 1,903,404 shares in the company, valued at $54,532,524.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Flex Stock Up 0.5 %

Flex stock traded up $0.15 during midday trading on Thursday, hitting $28.71. 2,721,140 shares of the company were exchanged, compared to its average volume of 5,025,926. The company has a market cap of $12.09 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company’s fifty day moving average price is $28.54 and its 200-day moving average price is $26.94. Flex Ltd. has a fifty-two week low of $20.83 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in Flex during the 3rd quarter worth $30,000. Richardson Financial Services Inc. purchased a new stake in shares of Flex during the fourth quarter worth about $34,000. CWM LLC lifted its stake in shares of Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Flex by 276.6% in the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Flex during the 4th quarter valued at approximately $75,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.