Stock market today: S&P 500 ends lower, but tech bounce on dip-buying stems losses
Flex LTD. (NASDAQ:FLEX) Chief Commercial Officer Michael P Hartung sold 15,000 shares of the company’s ordinary shares on November 11, 2025, for approximately $933,176. The sales were executed in three separate transactions, with prices ranging from $62.0165 to $63.5 per share. This insider transaction comes as Flex shares have surged over 55% year-to-date and 58% over the past year, according to InvestingPro data.
Specifically, Hartung sold 11,442 shares at a weighted average price of $62.0165, with actual prices ranging from $61.48 to $62.443. An additional 3,496 shares were sold at a weighted average price of $62.8281, with prices ranging from $62.49 to $63.31. The final transaction involved the sale of 62 shares at $63.50 each. The stock currently trades at $59.53, slightly below Hartung’s selling prices and near its InvestingPro Fair Value, with a GOOD overall financial health rating.
Following these transactions, Hartung directly owns 211,198 ordinary shares of Flex LTD., which includes 138,346 unvested restricted share units. These RSUs will vest in installments between June 2026 and September 2027.
The sales were executed under a pre-arranged Rule 10b5-1(c) trading plan adopted on June 17, 2025.
In other recent news, Flex Ltd. reported its second-quarter earnings for fiscal year 2026, surpassing analyst expectations with an adjusted earnings per share of $0.79, compared to the forecasted $0.75. The company also exceeded revenue expectations, reporting $6.8 billion against the anticipated $6.68 billion. Following this report, KeyBanc Capital Markets raised its price target for Flex to $75.00 from $70.00, maintaining an Overweight rating, citing growth in the data center sector as a key factor. In addition, Flex announced the deployment of a rack-level liquid cooling solution at the Equinix Co-Innovation Facility in Virginia, showcasing its capabilities in liquid cooling technology.
Meanwhile, Nextracker Inc. rebranded as Nextpower, signaling its expansion into power conversion beyond its traditional solar tracking systems. The company plans to develop utility-scale power conversion systems with shipments expected in 2026, aiming to create a comprehensive technology platform for utility-scale solar power plants. These developments reflect the company’s strategic shift towards a broader portfolio of integrated energy technology solutions.
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