Flex Ltd (NASDAQ:FLEX) shares traded -8.06% lower at $26.34 on Wall Street last session.
FLEX stock price is now -7.51% away from the 50-day moving average and 17.24% away from the 200-day moving average. The market capitalization of the company currently stands at $11.09B.
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With the price target of $35, Barclays recently initiated with Overweight rating for Flex Ltd (NASDAQ: FLEX). , while ‘Credit Suisse’ rates the stock as ‘Outperform’
In other news, Tan Kwang Hooi, Group President sold 8,027 shares of the company’s stock on Mar 13 ’24. The stock was sold for $231,235 at an average price of $28.81. Upon completion of the transaction, the Group President now directly owns 159,718 shares in the company, valued at $4.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 12 ’24, Chief Accounting Officer WENDLER DANIEL sold 1,860 shares of the business’s stock. A total of $53,728 was realized by selling the stock at an average price of $28.89. This leaves the insider owning 28,730 shares of the company worth $0.76 million. A total of 0.67% of the company’s stock is owned by insiders.
During the past 12 months, Flex Ltd has had a low of $14.44 and a high of $30.93. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.59, and a quick ratio of 0.86.
According to the Electronic Components Company, earnings per share came in at 0.55, beating analysts’ expectations of 0.46 by 0.09. This compares to $0.52 EPS in the same period last year. The net profit margin was 2.56% and return on equity was 14.38% for FLEX. The company reported revenue of $7.1 billion for the quarter, compared to $7.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.42 percent. For the current quarter, analysts expect FLEX to generate $5.7B in revenue.
