Brokerages Set Flex Ltd. (NASDAQ:FLEX) Target Price at $112.80

Shares of Flex Ltd. (NASDAQ:FLEX) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $112.80.

Several equities research analysts recently issued reports on FLEX shares. Barclays upped their price target on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. Raymond James Financial set a $80.00 price target on Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group upped their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th.

Flex Trading Down 0.6%

NASDAQ FLEX opened at $144.85 on Friday. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 62.17, a P/E/G ratio of 0.77 and a beta of 1.46. Flex has a 52 week low of $41.43 and a 52 week high of $147.76. The business has a 50 day moving average price of $96.84 and a 200-day moving average price of $74.89. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter. As a group, equities analysts expect that Flex will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the transaction, the chief operating officer owned 238,543 shares in the company, valued at $32,425,149.99. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 83,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the transaction, the chief executive officer owned 605,522 shares of the company’s stock, valued at $80,455,708.14. This trade represents a 12.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,512 shares of company stock valued at $44,459,298 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. State Street Corp grew its stake in Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock valued at $849,235,000 after purchasing an additional 2,126,440 shares during the period. Geode Capital Management LLC grew its stake in Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after purchasing an additional 181,266 shares during the period. Norges Bank bought a new position in Flex in the 4th quarter valued at $319,756,000. Finally, Polar Capital Holdings Plc grew its stake in Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.