Flex (NASDAQ:FLEX) Price Target Lowered to $35.00 at KeyCorp

Flex (NASDAQ:FLEX) had its price objective trimmed by KeyCorp from $46.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

FLEX has been the topic of a number of other research reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Barclays increased their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Flex presently has a consensus rating of “Buy” and an average target price of $43.67.

Flex Trading Down 6.8 %

Shares of Flex stock opened at $29.42 on Tuesday. Flex has a 52-week low of $25.11 and a 52-week high of $45.10. The firm has a market capitalization of $11.27 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company’s fifty day moving average price is $36.45 and its two-hundred day moving average price is $37.46.

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

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Flex

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Flex during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Flex in the fourth quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Flex by 21,475.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,726 shares of the technology company’s stock worth $57,000 after buying an additional 1,718 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.