Kwang Hooi Tan Sells 8,028 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the sale, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Flex Stock Down 1.6 %

Flex stock opened at $34.67 on Wednesday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $35.84. The company has a market cap of $13.77 billion, a PE ratio of 15.55, a PEG ratio of 2.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The business’s 50-day simple moving average is $32.55 and its two-hundred day simple moving average is $31.03.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several analyst reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Stifel Nicolaus increased their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Barclays upped their target price on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $39.17.

Institutional Investors Weigh In On Flex

Large investors have recently bought and sold shares of the company. Creative Planning lifted its stake in Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after acquiring an additional 839 shares during the period. SG Americas Securities LLC lifted its position in Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 38,711 shares during the period. Hsbc Holdings PLC boosted its holdings in Flex by 254.9% in the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after purchasing an additional 36,465 shares during the last quarter. Twin Tree Management LP grew its position in Flex by 29,912.0% during the 1st quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 96,915 shares during the period. Finally, Valliance Asset Management Ltd purchased a new position in shares of Flex during the 2nd quarter valued at about $2,654,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.