Flex Ltd. (NASDAQ:FLEX) Receives $40.83 Average Target Price from Analysts

Shares of Flex Ltd. (NASDAQ:FLEX) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $40.83.

FLEX has been the subject of several recent research reports. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. 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. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays raised their price target on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $39.83 on Monday. The stock has a market capitalization of $15.45 billion, a P/E ratio of 17.74, a PEG ratio of 2.37 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $34.47 and a two-hundred day simple moving average of $32.06. Flex has a 52 week low of $21.84 and a 52 week high of $40.48.

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares in the company, valued at approximately $5,377,327.06. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,185 shares of company stock worth $1,442,555 in the last 90 days. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. acquired a new stake in Flex during the third quarter valued at $29,000. Huntington National Bank grew its position in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of Flex in the 3rd quarter valued at about $39,000. Quarry LP purchased a new position in Flex during the second quarter worth approximately $43,000. Finally, American Capital Advisory LLC acquired a new stake in Flex in the second quarter valued at approximately $46,000. Institutional investors and hedge funds 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.