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

Flex Ltd. (NASDAQ:FLEX - Get Free Report) has been given an average recommendation of "Buy" by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $43.67.

A number of research firms have recently issued reports on FLEX. Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. StockNews.com cut shares of Flex from a "buy" rating to a "hold" rating in a research report on Saturday. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 target price on the stock. Finally, The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday, October 17th.

Insider Activity at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of Flex 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flex

Hedge funds have recently bought and sold shares of the stock. Creative Planning raised its stake in shares of Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company's stock worth $4,726,000 after acquiring an additional 839 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Flex by 153.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company's stock worth $3,724,000 after purchasing an additional 67,468 shares during the period. JPMorgan Chase & Co. lifted its stake in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after purchasing an additional 296,505 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company's stock valued at $16,259,000 after buying an additional 257,975 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock valued at $149,350,000 after buying an additional 3,844,935 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Up 3.5 %

Shares of Flex stock traded up $1.42 on Friday, reaching $41.92. 4,400,678 shares of the company were exchanged, compared to its average volume of 3,744,625. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.43 and a beta of 1.10. 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 one year low of $24.05 and a one year high of $45.10. The company has a 50-day moving average of $39.99 and a 200 day moving average of $35.65.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.83%. On average, equities research analysts forecast that Flex will post 2.33 earnings per share for the current year.

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.