What Did This CEO Just Do with Personal Shares of Flex Ltd (NASDAQ: FLEX)?

By Carrie Williams

Yesterday, the CEO of Flex Ltd (NASDAQ: FLEX), Michael M. McNamara, sold shares of FLEX for $3.47M.

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Based on Flex Ltd’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $6.41 billion and GAAP net loss of $19.6 million. In comparison, last year the company earned revenue of $5.86 billion and had a net profit of $86.87 million. FLEX’s market cap is $7.66B and the company has a P/E ratio of 17.90. Currently, Flex Ltd has an average volume of 7.77M.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $17.67, reflecting a -17.9% downside. Four different firms, including Citigroup and Goldman Sachs, currently also have a Sell rating on the stock.

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Flex Ltd. provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. It operates through the following segments: Communications & Enterprise Compute, Consumer Technology Group, Industrial and Emerging Industries, and High Reliability Solutions.