Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer Sells 34,097 Shares of Stock

Flex Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 34,097 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $976,879.05. Following the completion of the transaction, the executive vice president now directly owns 145,692 shares in the company, valued at approximately $4,174,075.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

David Scott Offer also recently made the following trade(s):

• On Tuesday, February 20th, David Scott Offer sold 75,000 shares of Flex stock. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.74 and a beta of 1.18. The company has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $26.94. Flex Ltd. has a one year low of $21.58 and a one year high of $30.93.

Institutional Trading of Flex

Hedge funds have recently made changes to their positions in the stock. Ardsley Advisory Partners LP lifted its position in shares of Flex by 11.5% during the 3rd quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock worth $10,617,000 after buying an additional 40,500 shares during the period. FNY Investment Advisers LLC acquired a new position in Flex in the 4th quarter valued at about $2,909,000. abrdn plc increased its stake in Flex by 106.0% during the 4th quarter. abrdn plc now owns 146,524 shares of the technology company’s stock worth $4,463,000 after acquiring an additional 75,387 shares during the period. Vontobel Holding Ltd. boosted its stake in Flex by 21.8% during the fourth quarter. Vontobel Holding Ltd. now owns 201,902 shares of the technology company’s stock worth $6,150,000 after acquiring an additional 36,082 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Flex by 9.3% during the 3rd quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock valued at $61,836,000 after purchasing an additional 195,447 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLEX. JPMorgan Chase & Co. lifted their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays lifted their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. Finally, StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company 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.