JPMorgan Chase & Co. Lowers Flex (NASDAQ:FLEX) Price Target to $40.00

Flex (NASDAQ:FLEX - Free Report) had its price objective decreased by JPMorgan Chase & Co. from $52.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. KeyCorp lowered their target price on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Barclays increased their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $43.67.

Flex Trading Up 1.9 %

Shares of Flex stock traded up $0.57 on Thursday, reaching $31.10. 896,925 shares of the company's stock were exchanged, compared to its average volume of 3,956,823. The firm's 50-day moving average is $34.75 and its two-hundred day moving average is $37.39. The company has a market capitalization of $11.91 billion, a P/E ratio of 12.52, a price-to-earnings-growth 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. Flex has a 52 week low of $25.11 and a 52 week high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate 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 predict that Flex will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business's 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 of the company's stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction 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 directly owns 233,526 shares of the company's stock, valued at $10,249,456.14. This 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.

Hedge Funds Weigh In On Flex

Several institutional investors have recently modified their holdings of the company. CX Institutional bought a new position in Flex during the first quarter valued at approximately $29,000. R Squared Ltd purchased a new position in Flex in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Flex in the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new stake in Flex during the fourth quarter valued at about $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after buying an additional 509 shares during the period. 94.30% of the stock is currently owned by institutional investors.

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.