Flex Ltd. (NASDAQ:FLEX) Receives Consensus Rating of “Moderate Buy” from Analysts

Flex Ltd. (NASDAQ:FLEX) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.83.

Several equities analysts recently commented on the company. StockNews.com initiated coverage on shares of Flex in a report on Wednesday, March 6th. They set a “hold” rating for the company. Barclays increased their price target on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th.

Flex Price Performance

Shares of FLEX stock opened at $29.19 on Thursday. The stock has a 50 day moving average of $28.48 and a two-hundred day moving average of $26.88. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $12.29 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.74 and a beta of 1.18. Flex has a 12 month low of $20.41 and a 12 month high of $30.93.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the transaction, the insider now owns 159,718 shares in the company, valued at $4,601,475.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Wendler sold 1,860 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares in the company, valued at approximately $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 three months. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Flex

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Flex by 0.6% during the 3rd quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock worth $1,204,998,000 after buying an additional 247,024 shares during the period. Boston Partners grew its position in shares of Flex by 7.5% in the fourth quarter. Boston Partners now owns 8,967,046 shares of the technology company’s stock valued at $272,891,000 after purchasing an additional 624,414 shares during the last quarter. LSV Asset Management increased its stake in shares of Flex by 0.7% during the fourth quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after purchasing an additional 51,068 shares during the period. Vanguard Group Inc. lifted its holdings in Flex by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 5,829,503 shares of the technology company’s stock worth $177,567,000 after purchasing an additional 248,233 shares during the last quarter. Finally, Norges Bank bought a new stake in Flex in the 4th quarter valued at $165,000,000. 94.30% of the stock is owned by institutional investors and hedge funds.

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.