Flex Ltd. (NASDAQ:FLEX) Given Consensus Rating of “Buy” by Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $43.67.

FLEX has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Flex from $53.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus began coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, KeyCorp reduced their target price on shares of Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th.

Flex Stock Performance

FLEX stock opened at $30.93 on Thursday. Flex has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a market cap of $11.85 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The business’s fifty day moving average is $35.45 and its 200-day moving average is $37.36.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Equities research analysts forecast that Flex will post 2.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Flex

Several hedge funds have recently bought and sold shares of FLEX. CX Institutional bought a new stake in Flex in the first quarter valued at approximately $29,000. R Squared Ltd bought a new stake in Flex in the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Flex during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in Flex during the fourth quarter worth $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after purchasing an additional 509 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

About Flex

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.