Flex Ltd. (NASDAQ:FLEX) Receives $39.17 Average PT from Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have been given an average rating of “Buy” by the six research firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $39.17.

A number of equities research analysts recently commented on FLEX shares. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and boosted their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th.

Flex Trading Up 0.6 %

Shares of Flex stock opened at $35.21 on Thursday. Flex has a 12-month low of $21.84 and a 12-month high of $35.84. The firm’s 50 day simple moving average is $32.49 and its two-hundred day simple moving average is $30.97. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $13.98 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.01 and a beta of 1.09.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. Analysts predict that Flex will post 2.06 EPS for the current year.

Insider Activity

In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $904,530 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Flex

Several large investors have recently bought and sold shares of FLEX. Raymond James Trust N.A. grew its position in shares of Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after acquiring an additional 471 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Flex by 8.6% in the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock valued at $247,000 after purchasing an additional 683 shares during the period. Atomi Financial Group Inc. increased its position in Flex by 10.2% during the second quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock worth $235,000 after purchasing an additional 739 shares during the last quarter. Finally, Creative Planning raised its stake in Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after purchasing an additional 839 shares during the period. Hedge funds and other institutional investors 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.