Flex (NASDAQ:FLEX) Raised to “Buy” at StockNews.com

Flex (NASDAQ:FLEX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other equities analysts have also recently issued research reports about the company. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Barclays upped their price target on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flex currently has an average rating of “Buy” and an average price target of $42.67.

Flex Stock Up 1.0 %

FLEX opened at $44.27 on Friday. The company has a market capitalization of $17.17 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10. The firm has a 50-day simple moving average of $39.79 and a two-hundred day simple moving average of $35.09. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex has a 52 week low of $22.57 and a 52 week high of $45.10.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in Flex in the 3rd quarter worth about $29,000. Huntington National Bank boosted its holdings 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 bought a new position in Flex in the fourth quarter worth approximately $35,000. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the 3rd quarter worth $39,000. Finally, Quarry LP bought a new stake in Flex during the 2nd quarter valued at $43,000. 94.30% of the stock is owned by institutional investors.

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.