Flex Ltd. (NASDAQ:FLEX) Receives $39.17 Consensus Target Price from Analysts

Flex Ltd. (NASDAQ:FLEX) has been assigned an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $39.17.

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays lifted their price target on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company.

Insiders Place Their Bets

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, October 28th. The shares were 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 of the company’s stock, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated 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 directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,028 shares of company stock valued at $933,511. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FLEX. Lowe Brockenbrough & Co. Inc. grew its position in Flex by 6.9% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock worth $375,000 after purchasing an additional 725 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Flex by 3.9% in the third quarter. New York State Common Retirement Fund now owns 1,345,604 shares of the technology company’s stock worth $44,984,000 after buying an additional 50,155 shares during the last quarter. Stephens Inc. AR grew its holdings in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after acquiring an additional 361 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in Flex by 39.1% in the third quarter. First Trust Direct Indexing L.P. now owns 16,917 shares of the technology company’s stock valued at $566,000 after acquiring an additional 4,757 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Flex by 2.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,950 shares of the technology company’s stock valued at $1,570,000 after acquiring an additional 1,296 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 0.1 %

Shares of NASDAQ FLEX opened at $35.25 on Thursday. Flex has a 12-month low of $21.84 and a 12-month high of $35.84. The stock’s fifty day simple moving average is $32.49 and its two-hundred day simple moving average is $30.99. The stock has a market capitalization of $14.00 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

About Flex

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.