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David Scott Offer, Executive Vice President and General Counsel at Flex Ltd. (NASDAQ:FLEX), a prominent player in the Electronic Equipment industry with a market capitalization of $14.1 billion, recently sold a substantial number of the company’s ordinary shares, according to a Form 4 filing with the SEC. According to InvestingPro data, the company currently trades at an attractive P/E ratio of 14.6x. On May 2, Offer disposed of a total of 87,093 shares, generating proceeds of approximately $3.17 million. The shares were sold at prices ranging from $36.3872 to $36.7962 per share. Following these transactions, Offer holds 71,001 shares indirectly through a trust. While this insider sale is notable, InvestingPro analysis reveals that management has been actively buying back shares, with the company showing strong returns over both the past month and five years. Discover 10+ additional exclusive insights and detailed financial metrics with InvestingPro’s comprehensive research report.
In other recent news, Flex has expanded its U.S. production capacity to meet the growing demands of data center operators, with significant enhancements at its facilities in Columbia, South Carolina, and Dallas, Texas. The new 400,000-square-foot Dallas site will focus on producing power infrastructure solutions, such as power pods and distribution units, to support the rapid adoption of AI technology. Flex’s strategic expansion is part of a broader initiative to address power challenges in compute-intensive environments. Meanwhile, Fox Advisors has maintained its Overweight rating on Flextronics stock, suggesting that the recent 26% decline in stock price presents a favorable entry point for long-term investors. Stifel analysts have also initiated coverage on Flextronics with a Buy rating and a $52 price target, citing the company’s strategic acquisitions and expansion into growth areas like power and cooling as positive factors. Flex’s data center business reported a 45% year-over-year growth in the most recent quarter, demonstrating strong execution in a competitive sector. These developments underscore Flex’s commitment to scaling production capacities and diversifying into attractive growth sectors.
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