Flex Ltd. (NASDAQ:FLEX) Given Average Rating of “Buy” by Analysts

Shares of Flex Ltd. (NASDAQ:FLEX) have been assigned an average rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.83.

FLEX has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays upped their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Stifel Nicolaus upped their price target on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th.

Insider Activity at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,185 shares of company stock worth $1,442,555. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flex

A number of institutional investors have recently made changes to their positions in the stock. Boston Partners increased its holdings in shares of Flex by 113.8% in the first 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 during the period. Geode Capital Management LLC grew its position in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the last quarter. Merewether Investment Management LP purchased a new position in Flex in the 2nd quarter worth approximately $72,808,000. Charles Schwab Investment Management Inc. lifted its position in Flex by 462.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Flex by 1,242.5% in the second 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. Institutional investors own 94.30% of the company’s stock.

Flex Stock Down 1.2 %

Shares of NASDAQ:FLEX opened at $37.20 on Monday. Flex has a 1 year low of $21.84 and a 1 year high of $40.30. The company has a market capitalization of $14.43 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08. The business has a fifty day moving average price of $34.12 and a two-hundred day moving average price of $31.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

About Flex

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.