Flex (NASDAQ:FLEX) Upgraded at StockNews.com

Flex (NASDAQ:FLEX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

FLEX has been the subject of several other reports. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Craig Hallum raised Flex from a "hold" rating to a "buy" rating and raised their price objective for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Flex from $34.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, July 23rd. Barclays raised their target price on shares of Flex from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Finally, KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flex has an average rating of "Buy" and a consensus target price of $39.17.

Flex Stock Down 1.6 %

Shares of FLEX traded down $0.58 during trading hours on Tuesday, hitting $34.67. The company had a trading volume of 5,097,045 shares, compared to its average volume of 4,161,647. The firm has a fifty day moving average price of $32.55 and a 200-day moving average price of $31.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.01 and a beta of 1.09. Flex has a 52-week low of $21.84 and a 52-week high of $35.84.

Insider Buying and Selling

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

Hedge Funds Weigh In On Flex

Institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its holdings in Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company's stock worth $16,259,000 after buying an additional 257,975 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex during the 3rd quarter worth about $29,000. Lowe Brockenbrough & Co. Inc. grew its position in shares of Flex by 6.9% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company's stock valued at $375,000 after acquiring an additional 725 shares during the period. New York State Common Retirement Fund increased its stake in shares of Flex by 3.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,345,604 shares of the technology company's stock valued at $44,984,000 after purchasing an additional 50,155 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in Flex by 2.6% in the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock worth $472,000 after purchasing an additional 361 shares during the period. Hedge funds and other 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.

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