Flex Ltd. (NASDAQ:FLEX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have received a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Five research 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 updated their coverage on the stock in the last year is $44.33.

Several analysts have issued reports on FLEX shares. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Craig Hallum raised their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the business’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 value of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new position in Flex in the 3rd quarter valued at about $29,000. Huntington National Bank boosted its stake in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. R Squared Ltd acquired a new position in shares of Flex in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex during the 4th quarter worth approximately $35,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $38.58 on Wednesday. The firm has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $36.92. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. Flex has a 52 week low of $25.27 and a 52 week high of $45.10.

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

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.