Charles Stevens III Sells 15,000 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles Stevens III sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $138.14, for a total value of $2,072,100.00. Following the transaction, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This trade represents a 24.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Flex Stock Performance

Shares of NASDAQ:FLEX traded up $9.16 during trading on Friday, hitting $142.17. 10,293,915 shares of the company traded hands, compared to its average volume of 5,072,547. The stock has a market capitalization of $52.27 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 2.86 and a beta of 1.46. The business’s fifty day moving average is $74.45 and its 200-day moving average is $67.03. Flex Ltd. has a one year low of $38.30 and a one year high of $142.59. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.96 billion. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, equities analysts predict that Flex Ltd. will post 3.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price objective on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

Hedge Funds Weigh In On Flex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Allianz Asset Management GmbH lifted its position in Flex by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock worth $138,749,000 after purchasing an additional 360,553 shares during the period. Dynasty Wealth Management LLC lifted its position in Flex by 80.1% in the third quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company’s stock worth $2,528,000 after purchasing an additional 19,388 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Flex in the third quarter worth approximately $1,460,000. Finally, Winnow Wealth LLC acquired a new stake in Flex in the third quarter worth approximately $1,058,000. 94.30% of the stock is owned by institutional investors.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.