Flex (NASDAQ:FLEX) Given New $84.00 Price Target at JPMorgan Chase & Co.

Flex (NASDAQ:FLEX) had its price objective raised by JPMorgan Chase & Co. from $75.00 to $84.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on FLEX. Raymond James Financial set a $80.00 price objective on shares of Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Barclays raised their price objective on shares of Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Robert W. Baird assumed coverage on shares of Flex in a research note on Thursday, March 12th. They issued an “outperform” rating and a $70.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Flex Stock Performance

Shares of Flex stock opened at $79.92 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88. The firm has a market cap of $29.38 billion, a P/E ratio of 35.84, a P/E/G ratio of 1.71 and a beta of 1.22. The firm has a 50 day simple moving average of $66.46 and a 200 day simple moving average of $63.65. Flex has a fifty-two week low of $30.05 and a fifty-two week high of $80.33.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. Flex’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. Sell-side analysts predict that Flex will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction on Monday, March 9th. The shares were sold at an average price of $58.87, for a total transaction of $1,030,225.00. Following the transaction, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at $13,754,151.32. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. State Street Corp boosted its position in shares of Flex by 17.8% during the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Flex by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Flex by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,631,237 shares of the technology company’s stock worth $326,443,000 after purchasing an additional 355,061 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Flex during the fourth quarter worth $319,756,000. 94.30% of the stock is owned by institutional investors.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.