Flex (NASDAQ:FLEX) Given New $34.00 Price Target at JPMorgan Chase & Co.

Flex (NASDAQ:FLEX) had its price objective boosted by analysts at JPMorgan Chase & Co. from $32.00 to $34.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 19.80% from the stock’s current price.

Several other research firms have also commented on FLEX. The Goldman Sachs Group increased their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.20.

Flex Stock Down 2.5 %

FLEX stock opened at $28.38 on Thursday. Flex has a 12 month low of $19.44 and a 12 month high of $30.93. The firm has a market cap of $11.95 billion, a PE ratio of 16.89, a P/E/G ratio of 1.76 and a beta of 1.19. The firm has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $26.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. Equities research analysts forecast that Flex will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Flex

In related news, insider Rebecca Sidelinger sold 13,675 shares of the 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 approximately $4,531,944.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, 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 value of $382,763.25. Following the completion of the sale, the insider now owns 161,913 shares in the company, valued at approximately $4,531,944.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The disclosure for this sale can be found here. In the last three months, insiders sold 141,943 shares of company stock valued at $4,055,311. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Flex

Several institutional investors have recently modified their holdings of FLEX. Cornerstone Planning Group LLC acquired a new stake in shares of Flex during the 3rd quarter worth approximately $30,000. Richardson Financial Services Inc. bought a new position in Flex during the 4th quarter worth approximately $34,000. Quarry LP bought a new position in Flex during the 1st quarter worth approximately $38,000. CWM LLC boosted its stake in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares during the last quarter. Finally, Fifth Third Bancorp boosted 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 worth $60,000 after acquiring an additional 1,455 shares during the last quarter. 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.