Flex (NASDAQ:FLEX) Given New $35.00 Price Target at KeyCorp

Flex (NASDAQ:FLEX - Free Report) had its target price trimmed by KeyCorp from $46.00 to $35.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the technology company's stock.

FLEX has been the subject of a number of other reports. Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Barclays lifted 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Flex currently has an average rating of "Buy" and a consensus price target of $43.67.

Flex Stock Up 0.6 %

NASDAQ:FLEX traded up $0.17 on Tuesday, hitting $29.59. 3,829,359 shares of the company's stock traded hands, compared to its average volume of 3,970,512. The firm has a 50-day moving average price of $36.20 and a 200-day moving average price of $37.45. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market cap of $11.34 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. Flex has a 1 year low of $25.11 and a 1 year high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Flex will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Wealth Partners Inc. grew its stake in shares of Flex by 16.3% in the 1st quarter. Tower Wealth Partners Inc. now owns 6,445 shares of the technology company's stock valued at $213,000 after purchasing an additional 904 shares during the period. Affinity Wealth Management LLC bought a new stake in shares of Flex in the 1st quarter worth about $3,366,000. Hennion & Walsh Asset Management Inc. acquired a new position in Flex in the first quarter valued at about $215,000. Fulton Bank N.A. boosted its holdings in shares of Flex by 209.8% in the 1st quarter. Fulton Bank N.A. now owns 46,264 shares of the technology company's stock worth $1,530,000 after acquiring an additional 31,329 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Flex by 10,855.3% during the 1st quarter. GAMMA Investing LLC now owns 54,119 shares of the technology company's stock valued at $1,636,000 after purchasing an additional 53,625 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

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.