Insider Selling: Flex Ltd (NASDAQ:FLEX) CEO Sells 22,554 Shares of Stock

Flex Ltd (NASDAQ:FLEX) CEO Revathi Advaithi sold 22,554 shares of Flex stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $13.49, for a total value of $304,253.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of FLEX opened at $13.64 on Friday. Flex Ltd has a 52-week low of $8.82 and a 52-week high of $14.00. The business’s fifty day moving average is $13.07 and its 200-day moving average is $11.47. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -341.00, a PEG ratio of 2.65 and a beta of 1.87.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Flex had a negative return on equity of 0.86% and a negative net margin of 0.10%. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the company posted $0.34 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts forecast that Flex Ltd will post 0.32 EPS for the current fiscal year.

Several brokerages have weighed in on FLEX. JPMorgan Chase & Co. cut Flex from an “overweight” rating to a “neutral” rating in a report on Thursday, January 2nd. ValuEngine cut Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. BidaskClub cut Flex from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Goldman Sachs Group lifted their price objective on Flex from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.58.

Institutional investors and hedge funds have recently modified their holdings of the company. Americana Partners LLC bought a new position in shares of Flex in the 4th quarter valued at $28,000. Global Retirement Partners LLC bought a new stake in Flex during the 4th quarter worth $30,000. Valeo Financial Advisors LLC grew its position in Flex by 181.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,123 shares of the technology company’s stock worth $39,000 after acquiring an additional 2,014 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Flex by 14.9% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 7,700 shares of the technology company’s stock worth $97,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Dynamic Capital Management Ltd bought a new stake in Flex during the 3rd quarter worth $109,000. Institutional investors own 93.87% of the company’s stock.

About Flex

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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Insider Buying and Selling by Quarter for Flex (NASDAQ:FLEX)

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