Insider Selling: Flex (NASDAQ:FLEX) CEO Sells $11,094,645.00 in Stock

Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi sold 83,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the transaction, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at $80,455,708.14. This represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Revathi Advaithi also recently made the following trade(s):

• On Monday, May 11th, Revathi Advaithi sold 114,090 shares of Flex stock. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30.

Flex Stock Performance

NASDAQ:FLEX opened at $144.85 on Friday. Flex Ltd. has a 12-month low of $41.43 and a 12-month high of $147.76. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $53.07 billion, a PE ratio of 62.17, a price-to-earnings-growth ratio of 0.77 and a beta of 1.46. The firm has a 50-day moving average price of $96.84 and a 200 day moving average price of $74.89.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion during the quarter. Research analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Institutional Trading of Flex

A number of hedge funds and other institutional investors have recently modified their holdings of FLEX. Vanguard Group Inc. increased its holdings in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. Norges Bank acquired a new stake in shares of Flex in the fourth quarter valued at approximately $319,756,000. State Street Corp increased its holdings in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Flex by 694,916.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after acquiring an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after acquiring an additional 2,165,780 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FLEX. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. upped their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. The Goldman Sachs Group upped their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus upped their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

About Flex

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.