Flex (NASDAQ:FLEX) Now Covered by Analysts at KeyCorp

KeyCorp started coverage on shares of Flex (NASDAQ:FLEX) in a research report released on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $41.00 target price on the technology company’s stock.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $39.00 in a report on Thursday, July 25th. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price target on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

Flex Price Performance

Shares of FLEX stock opened at $34.26 on Tuesday. The firm has a market cap of $13.66 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. Flex has a 1-year low of $21.84 and a 1-year high of $35.84. The firm has a fifty day moving average of $32.27 and a two-hundred day moving average of $30.86.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. As a group, research analysts anticipate that Flex will post 2.06 earnings per share for the current fiscal year.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Flex news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now owns 175,468 shares in the company, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,028 shares of company stock worth $904,530 in the last ninety days. 0.82% of the stock is owned by insiders.

Institutional Trading of Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. Boston Partners raised its position in shares of Flex by 113.8% during the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after buying an additional 10,201,162 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of Flex in the 2nd quarter worth approximately $72,808,000. Westfield Capital Management Co. LP acquired a new position in shares of Flex in the 1st quarter worth approximately $51,543,000. Point72 Asset Management L.P. grew its stake in shares of Flex by 1,242.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after purchasing an additional 792,700 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of Flex by 48.1% in the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after purchasing an additional 556,286 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.