Flex Ltd. (NASDAQ:FLEX) Receives $114.20 Average PT from Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $114.20.

Several brokerages have issued reports on FLEX. Raymond James Financial set a $170.00 target price on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a report on Friday, July 17th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. The Goldman Sachs Group cut their target price on Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $142.00 price target on Flex in a research note on Thursday, July 30th.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI data-center and grid exposure: EPC Power designs power-conversion systems for data centers, utility-scale energy storage and microgrids. Its grid-forming technology and support for next-generation 800-volt data-center architectures could allow Flex to benefit from rising AI infrastructure and electricity-demand investment. Flex to Acquire EPC Power
• Positive Sentiment: Strategic expansion: Management plans to incorporate EPC Power into Flex’s upcoming spin-off, potentially creating a more focused power-infrastructure business and highlighting the value of the acquired assets. Flex Buys EPC Power
• Neutral Sentiment: Large transaction to assess: The $4.4 billion purchase is a major expansion for Flex. Investors will likely focus on the deal’s funding, integration progress, contribution to earnings and how the business will be structured within the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Investor engagement: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, providing an opportunity for management to discuss the acquisition and its AI infrastructure strategy. Flex Investor Conference
• Neutral Sentiment: Valuation support: Zacks highlighted Flex as a potential long-term value stock based on its style-score framework, which may reinforce positive sentiment but does not represent a new operating or earnings update. Why Flex Is a Top Value Stock
• Neutral Sentiment: Legal update: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a material financial impact. Flex Trade Secret Suit

Flex Stock Up 1.5%

Shares of NASDAQ:FLEX opened at $109.51 on Monday. Flex has a 12-month low of $53.07 and a 12-month high of $166.86. The stock has a market capitalization of $40.45 billion, a price-to-earnings ratio of 42.28, a PEG ratio of 0.54 and a beta of 1.67. The stock has a fifty day simple moving average of $122.84 and a two-hundred day simple moving average of $108.80. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. The firm had revenue of $7.93 billion during the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. On average, research analysts anticipate that Flex will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Flex news, EVP David Offer sold 20,812 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.47, for a total transaction of $3,006,709.64. Following the transaction, the executive vice president owned 97,779 shares in the company, valued at approximately $14,126,132.13. This represents a 17.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the sale, the chief executive officer directly owned 623,466 shares in the company, valued at approximately $89,978,613.12. The trade was a 24.09% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 426,938 shares of company stock worth $61,941,083 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Flex

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Flex by 18,186.9% in the second quarter. California State Teachers Retirement System now owns 90,345,435 shares of the technology company’s stock worth $14,642,285,000 after acquiring an additional 89,851,390 shares during the period. State Street Corp lifted its holdings in Flex by 17.8% in the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock valued at $849,235,000 after acquiring an additional 2,126,440 shares during the period. Geode Capital Management LLC boosted its position in Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the last quarter. Norges Bank bought a new stake in shares of Flex during the 4th quarter valued at about $319,756,000. Finally, Polar Capital Holdings Plc increased its position in shares of Flex by 141.8% during 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 last quarter. 94.30% of the stock is owned by institutional investors.

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.