Flex Ltd. (NASDAQ:FLEX) Receives $34.20 Consensus PT from Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.83.

Several equities analysts have weighed in on the company. Craig Hallum cut Flex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $27.00 in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com started coverage on Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. Barclays lifted their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th.

Flex Price Performance

Shares of NASDAQ FLEX opened at $27.90 on Thursday. The stock has a market capitalization of $11.75 billion, a PE ratio of 12.13, a P/E/G ratio of 1.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. The business has a fifty day moving average price of $28.46 and a two-hundred day moving average price of $26.84. Flex has a fifty-two week low of $19.85 and a fifty-two week high of $30.93.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a return on equity of 15.88% and a net margin of 3.58%. As a group, equities analysts predict that Flex will post 2.14 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at $830,009.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock valued at $4,055,311 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Flex

Hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC bought a new position in Flex in the 3rd quarter valued at approximately $30,000. Richardson Financial Services Inc. purchased a new stake in Flex during the 4th quarter valued at $34,000. CWM LLC raised its stake in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares during the last quarter. Fifth Third Bancorp raised 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 valued at $60,000 after buying an additional 1,455 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Flex during the 4th quarter valued at $75,000. 94.30% of the stock is owned by institutional investors.

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.