Flex (NASDAQ:FLEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research report report published on Friday morning.

FLEX has been the subject of several other research reports. The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Barclays increased their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. 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 MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $44.33.

Flex Stock Performance

NASDAQ:FLEX opened at $42.51 on Friday. The stock has a market cap of $16.29 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average is $40.64 and its 200-day moving average is $36.32. Flex has a 1-year low of $25.27 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating 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%. Equities research analysts anticipate that Flex will post 2.33 earnings per share for the current year.

Insider Transactions at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the company’s 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 sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of the company’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 transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after acquiring an additional 344,773 shares in the last quarter. Boston Partners raised its stake in Flex by 2.2% in the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after acquiring an additional 569,916 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Flex by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after buying an additional 817,215 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Flex by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company’s stock valued at $326,833,000 after buying an additional 916,085 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after buying an additional 31,214 shares during the last quarter. 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.