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

Shares of NASDAQ:FLEX traded down $0.14 during trading on Tuesday, reaching $10.43. 4,521,900 shares of the stock were exchanged, 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. Flex Ltd has a 12-month low of $5.36 and a 12-month high of $14.00. The firm 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 firm’s 50-day moving average price is $10.13 and its 200 day moving average price is $10.81.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Flex had a net margin of 0.36% and a return on equity of 3.04%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the business earned $0.27 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Flex Ltd will post 0.87 EPS for the current 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. 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. Finally, Citigroup dropped their price objective on Flex from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.35.

A number of large investors have recently modified their holdings of FLEX. State of New Jersey Common Pension Fund D raised its position in shares of Flex by 16.7% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,562,849 shares of the technology company’s stock worth $13,089,000 after buying an additional 223,430 shares in the last quarter. State Street Corp lifted its position in shares of Flex by 1.9% in the 1st quarter. State Street Corp now owns 10,247,845 shares of the technology company’s stock valued at $85,826,000 after acquiring an additional 191,560 shares in the last quarter. AXA acquired a new stake in shares of Flex in the first quarter worth $595,000. Fred Alger Management LLC purchased a new stake in shares of Flex during the first quarter worth $30,832,000. Finally, APG Asset Management N.V. increased its stake in shares of Flex by 25.7% in the first quarter. APG Asset Management N.V. now owns 868,853 shares of the technology company’s stock worth $7,277,000 after purchasing an additional 177,400 shares during the period. Hedge funds and other institutional investors own 94.42% 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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