Flex (NASDAQ:FLEX) Upgraded at StockNews.com

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

Other analysts have also issued reports about the company. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Barclays boosted their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 target price on the stock. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, Craig Hallum boosted their target price on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Six investment 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, the stock presently has a consensus rating of "Buy" and a consensus price target of $44.33.

Flex Stock Performance

Flex stock traded up $0.12 during mid-day trading on Friday, reaching $42.51. 1,506,046 shares of the company's stock were exchanged, compared to its average volume of 3,842,607. The business's fifty day simple moving average is $40.72 and its 200 day simple moving average is $36.40. The firm has a market capitalization of $16.29 billion, a PE ratio of 17.14, a P/E/G ratio of 2.58 and a beta of 1.10. Flex has a one year low of $25.27 and a one year high of $45.10. 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 issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, sell-side analysts expect that Flex will post 2.33 earnings per share for the current year.

Insider Activity

In related news, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLEX. Creative Planning boosted its holdings in shares of Flex by 0.6% in 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. State of Alaska Department of Revenue purchased a new position in shares of Flex in the 4th quarter worth about $1,697,000. One Wealth Advisors LLC purchased a new position in shares of Flex in the 4th quarter worth about $368,000. JPMorgan Chase & Co. boosted its holdings in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Flex by 113.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company's stock worth $16,259,000 after purchasing an additional 257,975 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other 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.