David P. Bennett Sells 1,878 Shares of Flex Ltd (NASDAQ:FLEX) Stock

Flex Ltd (NASDAQ:FLEX) CAO David P. Bennett sold 1,878 shares of Flex stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $10.44, for a total transaction of $19,606.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

FLEX stock traded down $0.14 during trading on Tuesday, hitting $10.43. The stock had a trading volume of 4,521,900 shares, compared to its average volume of 5,658,993. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.79. The company’s 50 day moving average price is $10.13 and its two-hundred day moving average price is $10.81. Flex Ltd has a 1-year low of $5.36 and a 1-year high of $14.00.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.53 billion. Flex had a net margin of 0.36% and a return on equity of 3.04%. The business’s revenue was down 11.9% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. As a group, sell-side analysts forecast that Flex Ltd will post 0.87 earnings per share for the current fiscal year.

FLEX has been the subject of a number of research reports. Royal Bank of Canada reissued a “hold” rating and set a $9.00 target price on shares of Flex in a research note on Wednesday, May 6th. BidaskClub raised Flex from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. Citigroup cut their target price on Flex from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Cfra dropped their price objective on Flex from $15.00 to $12.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Flex has a consensus rating of “Hold” and a consensus price target of $11.35.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Flex in the 4th quarter valued at about $989,000. Comerica Bank raised its position in shares of Flex by 8.3% during the 4th quarter. Comerica Bank now owns 59,656 shares of the technology company’s stock worth $772,000 after buying an additional 4,554 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Flex by 63.7% in the 4th quarter. M&T Bank Corp now owns 20,468 shares of the technology company’s stock worth $257,000 after purchasing an additional 7,961 shares in the last quarter. ETRADE Capital Management LLC raised its holdings in shares of Flex by 50.0% in the 4th quarter. ETRADE Capital Management LLC now owns 31,256 shares of the technology company’s stock worth $394,000 after purchasing an additional 10,422 shares in the last quarter. Finally, FMR LLC increased its position in shares of Flex by 41.8% in the fourth quarter. FMR LLC now owns 33,950,433 shares of the technology company’s stock worth $428,455,000 after acquiring an additional 10,003,704 shares in the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.

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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