Group President Michael Hartung Sells 43,381 Shares of Flex Ltd (FLEX)
Group President Michael Hartung of Flex Ltd (NASDAQ:FLEX) has sold 43,381 shares of the company on March 7, 2024, according to a recent SEC filing. The transaction was executed at an average price of $30.51 per share, resulting in a total value of approximately $1,323,804.31.Michael Hartung has a history of selling shares in the company; over the past year, the insider has sold a total of 125,704 shares and has not made any purchases of the stock.The insider transaction history for Flex Ltd indicates a pattern of insider sales, with 35 insider sells and no insider buys over the past year.
Flex Ltd, with a market cap of $12.559 billion, is a diversified global manufacturing company that offers design, engineering, manufacturing, and supply chain services and solutions to various industries and end markets.Regarding valuation, Flex Ltd's shares were trading at $30.51 on the day of the insider's recent sale. The company's price-earnings ratio stands at 17.75, which is lower than the industry median of 23.65 but higher than the company's historical median price-earnings ratio.The stock's price relative to the GuruFocus Value (GF Value) indicates that Flex Ltd is significantly overvalued. With a share price of $30.51 and a GF Value of $17.64, the price-to-GF-Value ratio is 1.73.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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