Barclays Raises Flex (NASDAQ:FLEX) Price Target to $49.00

Flex (NASDAQ:FLEX - Free Report) had its price target lifted by Barclays from $43.00 to $49.00 in a report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

A number of other brokerages also recently commented on FLEX. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on Flex from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target for the company. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, January 24th. Finally, Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Flex presently has a consensus rating of "Buy" and an average price target of $43.67.

Flex Stock Down 2.6 %

NASDAQ:FLEX traded down $1.07 during midday trading on Thursday, reaching $40.59. The company had a trading volume of 2,637,749 shares, compared to its average volume of 3,658,301. The stock's fifty day simple moving average is $39.96 and its 200-day simple moving average is $35.48. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex has a 12-month low of $24.05 and a 12-month high of $45.10. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.43 and a beta of 1.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued 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 net margin of 3.95% and a return on equity of 17.83%. On average, sell-side analysts anticipate that Flex will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles K. Stevens III sold 13,157 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Flex

A number of institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in Flex during the third quarter worth about $29,000. Huntington National Bank boosted its position in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after buying an additional 479 shares in the last quarter. R Squared Ltd acquired a new stake in Flex in the 4th quarter valued at about $35,000. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the 3rd quarter valued at about $39,000. Finally, Quarry LP purchased a new stake in shares of Flex in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 94.30% of the company's stock.

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.