Flex Ltd. (NASDAQ:FLEX) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Flex Ltd. (NASDAQ:FLEX - Get Free Report) have received a consensus rating of "Buy" from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment 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 issued a report on the stock in the last year is $44.33.

Several research firms have issued reports on FLEX. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. Finally, Barclays raised their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th.

Insider Activity at Flex

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

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Institutional Trading of Flex

Several hedge funds have recently modified their holdings of FLEX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex during the 4th quarter worth about $35,000. R Squared Ltd purchased a new stake in shares of Flex during the fourth quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after acquiring an additional 509 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Flex in the fourth quarter worth approximately $38,000. Finally, Huntington National Bank grew its holdings in Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock worth $58,000 after acquiring an additional 478 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

FLEX traded down $0.61 on Friday, reaching $36.81. The stock had a trading volume of 299,480 shares, compared to its average volume of 3,772,061. The business's 50-day moving average price is $39.64 and its two-hundred day moving average price is $37.46. The company has a market cap of $14.10 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Flex has a 12-month low of $25.27 and a 12-month high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Sell-side analysts forecast that Flex will post 2.33 earnings per share for the current year.

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.