Flex (NASDAQ:FLEX) CEO Revathi Advaithi Sells 39,188 Shares of Stock

by · The Cerbat Gem

Flex Ltd. (NASDAQ:FLEX – Get Free Report) CEO Revathi Advaithi sold 39,188 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the sale, the chief executive officer owned 584,278 shares in the company, valued at approximately $84,825,480.04. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

  • On Wednesday, June 17th, Revathi Advaithi sold 197,879 shares of Flex stock. The stock was sold at an average price of $144.32, for a total transaction of $28,557,897.28.
  • On Monday, June 15th, Revathi Advaithi sold 39,239 shares of Flex stock. The stock was sold at an average price of $147.96, for a total value of $5,805,802.44.
  • On Friday, May 22nd, Revathi Advaithi sold 83,500 shares of Flex stock. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00.
  • 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 Trading Up 5.6%

Shares of FLEX traded up $8.20 during mid-day trading on Monday, reaching $155.81. The company’s stock had a trading volume of 7,414,337 shares, compared to its average volume of 8,906,334. Flex Ltd. has a 52 week low of $45.31 and a 52 week high of $166.86. The stock has a market cap of $57.09 billion, a PE ratio of 66.87, a P/E/G ratio of 0.78 and a beta of 1.63. The company’s fifty day moving average price is $125.25 and its two-hundred day moving average price is $85.91. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX – Get Free Report) last released its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, analysts predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. KeyCorp increased their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Flex has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Check Out Our Latest Analysis on FLEX

Institutional Trading of Flex

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in Flex during the fourth quarter valued at $260,000. Goldman Sachs Group Inc. grew its stake in shares of Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares during the last quarter. Empowered Funds LLC bought a new stake in Flex during the 1st quarter valued at about $397,000. EverSource Wealth Advisors LLC increased its position in shares of Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Flex by 92.4% in the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after acquiring an additional 29,821 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Company Profile

(Get Free Report)

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.

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