StockNews.com Upgrades Flex (NASDAQ:FLEX) to Buy

StockNews.com upgraded shares of Flex (NASDAQ:FLEXFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, KeyCorp started coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flex currently has an average rating of “Buy” and an average price target of $42.67.

Read Our Latest Stock Report on Flex

Flex Price Performance

FLEX stock opened at $44.27 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex has a 1 year low of $22.57 and a 1 year high of $45.10. The firm has a 50-day moving average of $39.79 and a 200 day moving average of $35.12. The company has a market cap of $17.17 billion, a P/E ratio of 19.59, a PEG ratio of 2.81 and a beta of 1.10.

Insider Buying and Selling at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value 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 trade represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flex

Several large investors have recently bought and sold shares of FLEX. Creative Planning raised its stake in Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after buying an additional 839 shares during the last quarter. Hsbc Holdings PLC increased its position in Flex by 254.9% during the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after acquiring an additional 36,465 shares during the last quarter. Algert Global LLC lifted its holdings in Flex by 14.6% in the second quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock valued at $7,386,000 after acquiring an additional 31,876 shares during the period. Gateway Investment Advisers LLC boosted its position in Flex by 153.6% in the third quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company’s stock worth $3,724,000 after purchasing an additional 67,468 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares during the period. 94.30% of the stock is currently owned by institutional investors.

About Flex

(Get Free Report)

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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Analyst Recommendations for Flex (NASDAQ:FLEX)

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