Flex Ltd. (NASDAQ:FLEX) Receives $40.83 Consensus Price Target from Analysts

Flex Ltd. (NASDAQ:FLEX - Get Free Report) has been given an average recommendation of "Buy" by the six analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $40.83.

Several equities analysts have commented on the stock. Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on Flex from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on Flex from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective for the company.

Flex Trading Down 0.3 %

NASDAQ FLEX traded down $0.13 during trading hours on Monday, reaching $37.07. The company had a trading volume of 2,458,474 shares, compared to its average volume of 4,091,999. The stock has a market capitalization of $14.38 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08. Flex has a 1-year low of $21.84 and a 1-year high of $40.30. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $34.12 and a 200 day moving average of $31.93.

Insider Activity

In related news, EVP David Scott Offer sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,185 shares of company stock valued at $1,442,555. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flex

A number of institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its position in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after buying an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its position in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company's stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Flex by 2.6% in the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock valued at $472,000 after acquiring an additional 361 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company's stock worth $251,000 after buying an additional 471 shares during the last quarter. Finally, Huntington National Bank lifted its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the period. 94.30% of the stock is owned by hedge funds and other 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.