Intel stock extends gains after report of possible U.S. government stake
In a recent transaction filed with the Securities and Exchange Commission, Tan Lay Koon, a director at Flex Ltd. (NASDAQ:FLEX), sold 50,000 ordinary shares of the company. The shares were sold at a price of $43.25 each, amounting to a total transaction value of approximately $2.16 million. The transaction comes as Flex shares trade near their 52-week high of $45.10, having delivered an impressive 59% return over the past year. Following this sale, Tan Lay Koon retains ownership of 202,850 shares, which includes 6,889 unvested restricted share units set to vest prior to the company’s 2025 annual general meeting. With a market capitalization of $16.5 billion, Flex has shown strong shareholder-friendly policies, as InvestingPro data reveals management’s aggressive share buyback program. For deeper insights into Flex’s insider trading patterns and comprehensive analysis, investors can access the detailed Pro Research Report on InvestingPro.
In other recent news, Flextronics, also known as Flex International, LTD, received a Buy rating and a price target of $52.00 from analysts at Stifel. The firm’s positive outlook is influenced by Flex’s recent strategic acquisitions of JetCool and Crown Technical Systems, diversifying the company into growth sectors such as power and cooling. Stifel analysts also noted Flex’s increasing focus on U.S. hyperscaler opportunities, which aligns with their bullish stance on competitor Celestica (NYSE:CLS).
In parallel, Flexsteel Industries reported better-than-expected results for the second quarter with adjusted earnings per share of $0.95 and revenue of $108.5 million, surpassing analyst estimates. This marks the fifth consecutive quarter of year-over-year sales growth for the furniture manufacturer. Looking ahead, Flexsteel raised its fiscal 2025 revenue guidance to a range of $435-445 million, exceeding analyst expectations.
These are among the recent developments for both Flextronics and Flexsteel Industries. However, Flexsteel’s CEO Derek Schmidt has expressed caution about potential tariffs on imports from Mexico and Canada, which could impact the company’s outlook due to its sizable operations in Mexico.
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