Flex Ltd (NASDAQ:FLEX) President Douglas Britt sold 10,313 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total value of $99,107.93. Following the transaction, the president now owns 681,494 shares of the company’s stock, valued at $6,549,157.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
NASDAQ:FLEX traded down $0.39 during mid-day trading on Friday, reaching $9.03. 283,720 shares of the stock were exchanged, compared to its average volume of 6,924,967. The company has a market capitalization of $4.72 billion, a PE ratio of 50.22, a P/E/G ratio of 0.59 and a beta of 1.85. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.81. Flex Ltd has a 1 year low of $6.74 and a 1 year high of $15.38.
Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.41 billion. Flex had a return on equity of 3.03% and a net margin of 0.36%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. As a group, sell-side analysts anticipate that Flex Ltd will post 0.98 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in FLEX. Front Row Advisors LLC grew its stake in shares of Flex by 646.9% in the 1st quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,206 shares during the last quarter. Willingdon Wealth Management purchased a new position in shares of Flex in the 1st quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Flex by 119.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock valued at $29,000 after purchasing an additional 2,084 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Flex in the 4th quarter valued at approximately $80,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Flex in the 4th quarter valued at approximately $96,000. Institutional investors own 94.50% of the company’s stock.
FLEX has been the topic of several research reports. ValuEngine raised Flex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. BidaskClub raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Goldman Sachs Group upgraded Flex from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded Flex from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Wednesday, May 29th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.00.
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Flex Company Profile
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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