Barclays Raises Flex (NASDAQ:FLEX) Price Target to $34.00

Flex (NASDAQ:FLEX) had its target price lifted by Barclays from $30.00 to $34.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts also recently weighed in on FLEX. Craig Hallum downgraded shares of Flex from a buy rating to a hold rating and dropped their target price for the stock from $28.00 to $27.00 in a report on Thursday. StockNews.com began coverage on shares of Flex in a report on Wednesday, March 6th. They issued a hold rating on the stock. The Goldman Sachs Group lifted their target price on Flex from $29.00 to $37.00 and gave the stock a buy rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $32.83.

Flex Price Performance

NASDAQ FLEX opened at $27.90 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The business’s fifty day moving average is $28.46 and its 200 day moving average is $26.85. The company has a market capitalization of $11.75 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Flex has a fifty-two week low of $19.85 and a fifty-two week high of $30.93.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total value of $231,257.87. Following the completion of the sale, the insider now owns 159,718 shares in the company, valued at approximately $4,601,475.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total value of $231,257.87. Following the transaction, the insider now owns 159,718 shares in the company, valued at $4,601,475.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rebecca Sidelinger sold 13,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the sale, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flex

Several hedge funds have recently modified their holdings of FLEX. Cornerstone Planning Group LLC purchased a new stake in shares of Flex during the third quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Flex during the fourth quarter worth about $34,000. CWM LLC increased its holdings in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after buying an additional 773 shares during the period. Fifth Third Bancorp lifted its stake in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,455 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Flex in the fourth quarter worth $75,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.