Michael Hartung Sells 45,000 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) insider Michael Hartung sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the completion of the sale, the insider owned 256,198 shares of the company’s stock, valued at $14,639,153.72. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Flex Trading Down 1.3%

Shares of NASDAQ:FLEX opened at $56.46 on Thursday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $58.60. The company has a market capitalization of $21.19 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. The company has a 50-day simple moving average of $52.53 and a 200 day simple moving average of $43.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36.

Flex (NASDAQ:FLEX) last issued its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The business had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the business posted $0.51 EPS. Flex’s revenue was up 4.1% on a year-over-year basis. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Flex from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. The Goldman Sachs Group restated a “buy” rating on shares of Flex in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on Flex from $44.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. KGI Securities cut Flex from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $53.71.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Flex during the first quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new stake in shares of Flex during the first quarter worth $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Flex during the first quarter worth $26,000. MTM Investment Management LLC bought a new stake in shares of Flex during the second quarter worth $26,000. Finally, Concord Wealth Partners bought a new stake in shares of Flex during the second quarter worth $28,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Company Profile

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.