Flex (NASDAQ:FLEX) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Flex (NASDAQ:FLEX - Free Report) in a report published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $52.00 price objective on the technology company's stock.

Other research analysts have also issued research reports about the company. Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. StockNews.com lowered Flex from a "buy" rating to a "hold" rating in a research report on Saturday, February 1st. Finally, Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $44.33.

Flex Stock Up 0.1 %

Shares of NASDAQ:FLEX traded up $0.06 during trading on Tuesday, hitting $42.45. The stock had a trading volume of 1,004,132 shares, compared to its average volume of 3,529,568. Flex has a 12 month low of $25.27 and a 12 month high of $45.10. The company has a market capitalization of $16.26 billion, a PE ratio of 17.12, a PEG ratio of 2.58 and a beta of 1.10. The firm's fifty day moving average is $40.50 and its 200 day moving average is $36.14. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. 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 firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC bought a new stake in Flex during the fourth quarter valued at about $206,000. Credit Industriel ET Commercial bought a new stake in shares of Flex in the fourth quarter worth about $74,000. MGO One Seven LLC bought a new stake in shares of Flex in the fourth quarter worth about $1,517,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Flex by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 177,589 shares of the technology company's stock worth $6,819,000 after purchasing an additional 7,957 shares during the last quarter. Finally, Harvest Investment Services LLC bought a new stake in shares of Flex in the fourth quarter worth about $292,000. 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.