Barclays Forecasts Strong Price Appreciation for Flex (NASDAQ:FLEX) Stock

Flex (NASDAQ:FLEX - Get Free Report) had its price target boosted by research analysts at Barclays from $39.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Barclays's price target indicates a potential upside of 24.03% from the company's previous close.

Several other research firms have also issued reports on FLEX. Craig Hallum boosted their target price on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Flex from $34.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 23rd. KeyCorp began coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on Flex from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flex presently has an average rating of "Buy" and an average target price of $40.83.

Flex Trading Down 3.1 %

FLEX stock traded down $1.11 during midday trading on Thursday, reaching $34.67. The stock had a trading volume of 3,120,482 shares, compared to its average volume of 4,165,452. The business has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $31.11. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.01 and a beta of 1.09. Flex has a twelve month low of $21.84 and a twelve month high of $36.98.

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Flex news, EVP David Scott Offer sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the business'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 sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock worth $933,511 in the last 90 days. Corporate insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On Flex

Several institutional investors have recently bought and sold shares of the company. Creative Planning raised its stake in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company's stock worth $4,726,000 after purchasing an additional 839 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Flex by 441.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company's stock valued at $1,400,000 after buying an additional 38,711 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Flex by 254.9% in the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company's stock valued at $1,499,000 after buying an additional 36,465 shares during the last quarter. Twin Tree Management LP boosted its holdings in shares of Flex by 29,912.0% in the 1st quarter. Twin Tree Management LP now owns 97,239 shares of the technology company's stock valued at $2,782,000 after buying an additional 96,915 shares during the last quarter. Finally, Valliance Asset Management Ltd acquired a new stake in shares of Flex in the 2nd quarter valued at approximately $2,654,000. Institutional investors own 94.30% of the company's stock.

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.