Flex (NASDAQ:FLEX) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Flex (NASDAQ:FLEX) in a research note published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $52.00 target price on the technology company’s stock.

FLEX has been the topic of a number of other reports. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. KeyCorp initiated coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $44.33.

Flex Price Performance

Shares of NASDAQ FLEX opened at $42.39 on Tuesday. The company has a market capitalization of $16.24 billion, a PE ratio of 17.09, a PEG ratio of 2.58 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex has a twelve month low of $25.27 and a twelve month high of $45.10. The stock’s 50 day moving average price is $40.50 and its 200-day moving average price is $36.14.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts anticipate that Flex will post 2.33 EPS for the current year.

Insider Buying and Selling

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Creative Planning raised its stake in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after buying an additional 839 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Flex during the third quarter worth about $208,000. Sax Wealth Advisors LLC increased its holdings in Flex by 17.5% during the 3rd quarter. Sax Wealth Advisors LLC now owns 16,613 shares of the technology company’s stock worth $555,000 after purchasing an additional 2,472 shares during the period. Net Worth Advisory Group acquired a new stake in Flex in the 3rd quarter valued at about $323,000. Finally, Raymond James & Associates boosted its stake in shares of Flex by 0.8% in the 3rd quarter. Raymond James & Associates now owns 680,888 shares of the technology company’s stock valued at $22,762,000 after buying an additional 5,681 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.