Flex Ltd. (NASDAQ:FLEX) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.67.

FLEX has been the subject of several recent research reports. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price objective for the company. Barclays upped their target price on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. Finally, Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 8,028 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Flex

Several hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its position in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company's stock valued at $599,000 after acquiring an additional 360 shares in the last quarter. Stephens Inc. AR lifted its stake in Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock worth $472,000 after acquiring an additional 361 shares during the last quarter. Huntington National Bank grew its holdings 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 in the last quarter. Finally, Wahed Invest LLC increased its position in shares of Flex by 7.4% in the 3rd quarter. Wahed Invest LLC now owns 9,637 shares of the technology company's stock valued at $322,000 after purchasing an additional 667 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of FLEX traded up $0.21 during mid-day trading on Friday, reaching $38.38. The company had a trading volume of 2,183,676 shares, compared to its average volume of 4,345,582. The stock has a 50 day moving average of $37.07 and a two-hundred day moving average of $33.19. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $14.88 billion, a P/E ratio of 16.98, a PEG ratio of 2.43 and a beta of 1.10. Flex has a 52-week low of $21.84 and a 52-week high of $42.47.

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.