Flex (NASDAQ:FLEX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX - Free Report) from a hold rating to a buy rating in a research report released on Thursday morning.

FLEX has been the subject of a number of other reports. KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price target for the company. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Craig Hallum upped their price target on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Flex from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Barclays upped their target price on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Flex has a consensus rating of "Buy" and an average price target of $42.67.

Flex Stock Performance

FLEX traded up $0.47 on Thursday, reaching $42.39. 2,943,487 shares of the stock were exchanged, compared to its average volume of 2,962,639. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company's 50-day moving average price is $39.14 and its 200 day moving average price is $34.46. The firm has a market capitalization of $16.44 billion, a PE ratio of 18.76, a PEG ratio of 2.56 and a beta of 1.10. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $44.45.

Insider Activity at Flex

In related 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 value of $509,044.33. Following the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Institutional Trading of Flex

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock valued at $898,389,000 after purchasing an additional 344,773 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company's stock valued at $235,289,000 after purchasing an additional 127,688 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock valued at $237,216,000 after buying an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after acquiring an additional 296,505 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock valued at $149,350,000 after acquiring an additional 3,844,935 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other 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.