Flex Ltd. (NASDAQ:FLEX) Receives $43.67 Consensus Target Price from Analysts

Flex Ltd. (NASDAQ:FLEX - Get Free Report) has been assigned a consensus rating of "Buy" from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $43.67.

A number of brokerages have weighed in on FLEX. The Goldman Sachs Group dropped their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. KeyCorp lowered their target price on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th.

Flex Price Performance

Shares of NASDAQ FLEX traded down $1.01 during midday trading on Thursday, reaching $30.53. 2,280,327 shares of the company traded hands, compared to its average volume of 3,968,739. The firm has a market cap of $11.70 billion, a PE ratio of 12.31, a PEG ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock's 50-day simple moving average is $34.75 and its 200-day simple moving average is $37.39. Flex has a 12 month low of $25.11 and a 12 month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, equities analysts anticipate that Flex will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company's stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On Flex

A number of hedge funds have recently modified their holdings of FLEX. Boston Partners raised its holdings in Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after buying an additional 569,916 shares during the period. Vanguard Group Inc. increased its position in shares of Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock worth $472,155,000 after acquiring an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock worth $326,833,000 after acquiring an additional 916,085 shares during the period. JPMorgan Chase & Co. lifted its position in Flex by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock valued at $246,006,000 after acquiring an additional 361,049 shares in the last quarter. Finally, Norges Bank acquired a new position in Flex in the 4th quarter worth $229,484,000. Institutional investors and hedge funds own 94.30% of the company's stock.

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.