Flex (NASDAQ:FLEX) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX – Get Rating) from a hold rating to a buy rating in a research note released on Friday.

Several other research analysts have also recently issued reports on FLEX. Craig Hallum dropped their price target on Flex from $31.00 to $25.00 in a report on Thursday, January 27th. Zacks Investment Research raised shares of Flex from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a research note on Friday, April 1st.

Shares of NASDAQ FLEX traded down $0.27 during trading on Friday, hitting $16.95. The company had a trading volume of 6,033,542 shares, compared to its average volume of 3,363,177. The company has a market cap of $7.87 billion, a P/E ratio of 8.74, a PEG ratio of 0.65 and a beta of 1.50. Flex has a 52 week low of $14.88 and a 52 week high of $19.50. The business’s 50-day moving average is $16.87 and its 200 day moving average is $17.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.75 and a current ratio of 1.37.

Flex (NASDAQ:FLEX – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.16. The company had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Flex had a return on equity of 26.33% and a net margin of 3.60%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, research analysts expect that Flex will post 1.83 EPS for the current year.

In other Flex news, CEO Revathi Advaithi sold 32,367 shares of the business’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $17.08, for a total transaction of $552,828.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Flex in the fourth quarter worth $28,000. Paragon Capital Management Ltd acquired a new position in shares of Flex in the fourth quarter worth $38,000. Covestor Ltd acquired a new position in shares of Flex in the fourth quarter worth $41,000. MUFG Americas Holdings Corp acquired a new position in shares of Flex in the third quarter worth $43,000. Finally, Capital Advisors Ltd. LLC acquired a new position in shares of Flex in the fourth quarter worth $51,000. 95.95% of the stock is currently owned by institutional investors and hedge funds.

About Flex (Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The company provides a portfolio of technologies in electrical/electronics, electromechanical, and software; and cross-industry technologies, including human machine interface, audio and video, system in package, miniaturization, IoT platforms, and power management.

Featured Stories