Flex Ltd. (NASDAQ:FLEX – Get Rating) CEO Revathi Advaithi sold 42,594 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $26.59, for a total value of $1,132,574.46. Following the completion of the sale, the chief executive officer now owns 1,676,768 shares of the company’s stock, valued at $44,585,261.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this hyperlink.

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

• On Thursday, June 8th, Revathi Advaithi sold 113,101 shares of Flex stock. The stock was sold at an average price of $26.44, for a total value of $2,990,390.44.
• On Tuesday, June 6th, Revathi Advaithi sold 56,501 shares of Flex stock. The stock was sold at an average price of $26.10, for a total value of $1,474,676.10.
• On Friday, June 2nd, Revathi Advaithi sold 47,893 shares of Flex stock. The stock was sold at an average price of $26.07, for a total value of $1,248,570.51.

Flex Stock Performance

FLEX stock opened at $26.64 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $22.76. Flex Ltd. has a twelve month low of $13.63 and a twelve month high of $26.88. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.21 and a beta of 1.44.

Flex (NASDAQ:FLEX – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.18 billion. Flex had a return on equity of 18.83% and a net margin of 2.61%. Analysts predict that Flex Ltd. will post 2.08 earnings per share for the current year.

Hedge Funds Weigh In On Flex

Several institutional investors have recently made changes to their positions in FLEX. FMR LLC increased its stake in shares of Flex by 49.2% during the first quarter. FMR LLC now owns 32,727,697 shares of the technology company’s stock valued at $753,064,000 after buying an additional 10,793,420 shares during the period. Invesco Ltd. grew its stake in Flex by 119.3% in the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after purchasing an additional 5,741,044 shares during the last quarter. Norges Bank purchased a new position in Flex in the fourth quarter valued at about $103,178,000. LSV Asset Management grew its stake in Flex by 281.7% in the first quarter. LSV Asset Management now owns 4,334,130 shares of the technology company’s stock valued at $99,728,000 after purchasing an additional 3,198,600 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in Flex by 101.8% in the fourth quarter. Voya Investment Management LLC now owns 6,122,084 shares of the technology company’s stock valued at $131,380,000 after purchasing an additional 3,088,635 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Flex in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

About Flex

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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 consisting of communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solutions including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.

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