Nucor earnings beat by $0.08, revenue fell short of estimates
In a recent transaction, Tan Kwang Hooi, Group President of Flex Ltd. (NASDAQ:FLEX), sold a total of 12,500 ordinary shares, according to a filing with the Securities and Exchange Commission. The shares were sold on March 10, 2025, at prices ranging from $32.47 to $33.89 per share, resulting in a total transaction value of $412,784. The sale comes as the $13.2 billion electronic equipment manufacturer trades at a modest P/E ratio of 13.8, with InvestingPro analysis suggesting the stock is currently undervalued.
Following the sale, Tan Kwang Hooi retains ownership of 227,518 shares in the company. The transaction involved two separate sales: one of 10,832 shares at a weighted average price of $32.9341, and another of 1,668 shares at a weighted average price of $33.5983. Despite this insider sale, analysts maintain a bullish outlook, with price targets ranging from $43 to $53, according to InvestingPro data, which offers 12 additional exclusive insights about FLEX’s financial health and growth prospects.
The filing also notes that Tan Kwang Hooi maintains a significant number of unvested restricted share units (RSUs), which are set to vest between 2025 and 2027. The company maintains a strong financial position with a "GOOD" overall health score and has been actively buying back shares, demonstrating management’s confidence in the business outlook.
In other recent news, Flex has expanded its U.S. manufacturing operations with a new 400,000-square-foot facility in Dallas. This site will focus on producing power infrastructure solutions, such as power pods and low-voltage switchgear, to meet the increasing demand driven by artificial intelligence adoption. Stifel analysts have initiated coverage on Flex with a Buy rating and a price target of $52, citing the company’s strategic acquisitions, including JetCool and Crown Technical Systems, as positive growth drivers. The firm also highlighted Flex’s significant year-over-year growth in its data center business, which increased by 45% in the most recent quarter.
Meanwhile, Flexsteel Industries reported better-than-expected second-quarter results, with adjusted earnings per share of $0.95, exceeding analyst estimates of $0.63. The company’s revenue for the quarter was $108.5 million, surpassing the consensus forecast of $102.93 million. Flexsteel also raised its fiscal 2025 revenue guidance to a range of $435-445 million, up from the previous outlook. However, potential tariffs on imports from Mexico and Canada could impact Flexsteel’s outlook, given its operations in Mexico. The company is actively working on plans to address these tariff risks.
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