Flex Ltd. (NASDAQ:FLEX – Get Rating) insider Kwang Hooi Tan sold 37,900 shares of the company's stock in a transaction on Monday, September 26th. The stock was sold at an average price of $16.50, for a total value of $625,350.00. Following the completion of the sale, the insider now directly owns 134,485 shares in the company, valued at $2,219,002.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Flex Trading Up 1.7 %
Flex stock opened at $16.61 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.68. Flex Ltd. has a one year low of $13.63 and a one year high of $19.63. The stock has a market capitalization of $7.58 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.72 and a beta of 1.49. The business's fifty day moving average is $17.55 and its 200 day moving average is $16.72.
Get Flex alerts:Institutional Investors Weigh In On Flex
Several institutional investors have recently modified their holdings of FLEX. Invesco Ltd. boosted its position in shares of Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company's stock valued at $195,729,000 after buying an additional 5,741,044 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Flex in the second quarter valued at about $82,769,000. Millennium Management LLC lifted its holdings in Flex by 322.7% in the fourth quarter. Millennium Management LLC now owns 5,603,500 shares of the technology company's stock valued at $102,712,000 after acquiring an additional 4,277,817 shares during the period. Boston Partners lifted its holdings in Flex by 16.4% in the first quarter. Boston Partners now owns 13,263,113 shares of the technology company's stock valued at $245,975,000 after acquiring an additional 1,866,361 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Flex by 14.1% in the second quarter. Franklin Resources Inc. now owns 14,792,799 shares of the technology company's stock valued at $214,052,000 after acquiring an additional 1,831,251 shares during the period. 95.01% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FLEX has been the topic of a number of recent research reports. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research note on Saturday, August 6th. The Goldman Sachs Group cut their target price on Flex from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 1st. Finally, Credit Suisse Group initiated coverage on Flex in a research note on Tuesday, August 16th. They issued an "outperform" rating and a $24.00 target price on the stock.Flex Company Profile
(Get Rating)
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.
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