Flex Ltd. (NASDAQ:FLEX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.83.
A number of research analysts have recently commented on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Monday. Barclays upped their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th.
Read Our Latest Stock Report on FLEX
Insider Transactions at Flex
Hedge Funds Weigh In On Flex
Several institutional investors and hedge funds have recently made changes to their positions in the business. 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 valued at $548,519,000 after acquiring an additional 10,201,162 shares in the last quarter. Cetera Advisors LLC increased its position in Flex by 290.8% in the first quarter. Cetera Advisors LLC now owns 35,160 shares of the technology company’s stock worth $1,006,000 after buying an additional 26,162 shares during the period. Cetera Investment Advisers increased its position in Flex by 79.5% in the first quarter. Cetera Investment Advisers now owns 126,202 shares of the technology company’s stock worth $3,611,000 after buying an additional 55,910 shares during the period. PGGM Investments increased its position in Flex by 0.8% in the first quarter. PGGM Investments now owns 279,676 shares of the technology company’s stock worth $8,002,000 after buying an additional 2,349 shares during the period. Finally, Atria Investments Inc acquired a new stake in Flex in the first quarter worth $2,399,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.
Flex Trading Down 3.2 %
Shares of FLEX stock opened at $30.61 on Friday. The firm has a 50-day moving average price of $30.22 and a 200 day moving average price of $28.14. Flex has a twelve month low of $21.84 and a twelve month high of $34.12. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.12 and a beta of 1.13. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.
Flex (NASDAQ:FLEX – Get Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.10 billion. Research analysts forecast that Flex will post 2.06 earnings per share for the current fiscal year.
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.
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