StockNews.com Upgrades Flex (NASDAQ:FLEX) to “Buy”

Flex (NASDAQ:FLEXGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts have also recently commented on FLEX. Craig Hallum cut Flex from a “buy” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. Barclays boosted their price target on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target 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. lifted their price objective on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Check Out Our Latest Research Report on FLEX

Flex Trading Up 5.4 %

Shares of Flex stock opened at $31.37 on Tuesday. Flex has a 12-month low of $21.84 and a 12-month high of $31.39. The stock has a market cap of $12.60 billion, a P/E ratio of 13.64, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $28.51 and its 200-day moving average is $27.23.

Flex (NASDAQ:FLEXGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Equities research analysts predict that Flex will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael P. Hartung sold 43,381 shares of Flex stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the transaction, the insider now directly owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Flex news, insider Michael P. Hartung sold 43,381 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the transaction, the insider now directly owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Revathi Advaithi sold 161,052 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the transaction, the chief executive officer now directly owns 1,903,404 shares in the company, valued at $54,532,524.60. The disclosure for this sale can be found here. Insiders have sold a total of 320,451 shares of company stock valued at $9,259,452 over the last ninety days. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently modified their holdings of FLEX. Atria Investments Inc bought a new stake in Flex during the first quarter worth $2,399,000. Delphi Management Inc. MA grew its holdings in Flex by 20.3% during the first quarter. Delphi Management Inc. MA now owns 65,993 shares of the technology company’s stock worth $1,888,000 after buying an additional 11,116 shares in the last quarter. Tidal Investments LLC bought a new position in Flex in the 1st quarter valued at $821,000. B. Riley Wealth Advisors Inc. grew its stake in Flex by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after purchasing an additional 471 shares during the period. Finally, Dynasty Wealth Management LLC bought a new position in Flex in the 1st quarter valued at $335,000. Institutional investors own 94.30% of the company’s stock.

About Flex

(Get Free Report)

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.

Read More

Analyst Recommendations for Flex (NASDAQ:FLEX)

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.