Insider Selling Alert: Flex Ltd. EVP David Scott Offer Sells $649,000 Worth of Shares
Flex Ltd. (NASDAQ: FLEX) recently saw its EVP and General Counsel, David Scott Offer, sell a total of 20,000 shares of the company, amounting to over $649,000. The transactions took place on August 23 and 26, with weighted average prices ranging from $31.9947 to $32.9535.
Despite the sales, Offer still holds a significant number of shares indirectly by trust, indicating continued investment in the company's future. The executive's ownership also includes unvested restricted share units (RSUs) that are set to vest between 2025 and 2026, aligning their interests with those of the company and its shareholders.
In other news, Flex Ltd. has reported strong Q1 earnings for fiscal year 2025, with net sales of $6.3 billion and a GAAP operating income of $233 million. The company has also made strategic acquisitions to enhance its product lifecycle services and promote sustainability.
Analyst firms have upgraded Flex Ltd.'s stock, with price targets ranging from $39.00 to $40.00. The company expects to grow its data center business at a compound annual growth rate of approximately 20% from fiscal year 2024 through 2029.
InvestingPro Insights suggest that Flex may be undervalued based on its low P/E ratio and future earnings potential. The company's management actively buying back shares and high shareholder yield further indicate confidence in its value proposition.
Flex's financial performance, including a Gross Profit of $2.014 billion over the last twelve months and a 1 Year Price Total Return of 70.66%, highlights its strong market position and potential for future growth.
In conclusion, Flex Ltd.'s recent insider transactions, strategic acquisitions, analyst upgrades, and strong financial performance all point to a positive outlook for the company. Investors should consider these factors when evaluating their investment decisions.