Flex (NASDAQ:FLEX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Flex (NASDAQ:FLEX) had its price objective increased by Stifel Nicolaus from $40.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. Finally, Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex has an average rating of “Buy” and an average price target of $42.67.

Flex Stock Down 0.6 %

Shares of NASDAQ FLEX opened at $37.93 on Tuesday. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.46 and a beta of 1.10. Flex has a 12-month low of $21.84 and a 12-month high of $42.47. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $36.74 and its 200-day moving average price is $33.08.

Insider Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were 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 of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Flex

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Flex by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after acquiring an additional 344,773 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after purchasing an additional 127,688 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Flex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after buying an additional 31,214 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after buying an additional 3,844,935 shares in the last quarter. Finally, State Street Corp grew its position in shares of Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after buying an additional 603,208 shares during the last quarter. 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.