Flex (NASDAQ:FLEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEXFree Report) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Flex from $32.00 to $34.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Craig Hallum downgraded Flex from a buy rating to a hold rating and reduced their target price for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on Flex from $29.00 to $37.00 and gave the stock a buy rating in a report on Monday, March 4th. Finally, Barclays raised their price objective on Flex from $30.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $32.83.

View Our Latest Stock Analysis on FLEX

Flex Stock Up 2.6 %

FLEX opened at $32.18 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The firm has a market cap of $12.92 billion, a P/E ratio of 13.99, a PEG ratio of 1.99 and a beta of 1.18. Flex has a 52 week low of $21.84 and a 52 week high of $32.49. The business’s fifty day simple moving average is $28.51 and its 200 day simple moving average is $27.23.

Flex (NASDAQ:FLEXGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. As a group, equities research analysts anticipate that Flex will post 2.06 EPS for the current fiscal year.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 43,381 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the sale, the insider now directly owns 154,810 shares in the company, valued at approximately $4,723,253.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the sale, the insider now owns 159,718 shares in the company, valued at approximately $4,601,475.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael P. Hartung sold 43,381 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total value of $1,323,554.31. Following the sale, the insider now owns 154,810 shares of the company’s stock, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,776 shares of company stock worth $8,876,689. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flex

Hedge funds have recently bought and sold shares of the business. Cornerstone Planning Group LLC acquired a new stake in Flex during the 3rd quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new position in shares of Flex in the 4th quarter worth approximately $34,000. CWM LLC grew its position in shares of Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,455 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Flex in the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Company Profile

(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.

Further Reading

Analyst Recommendations for Flex (NASDAQ:FLEX)

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