Barclays Increases Flex (NASDAQ:FLEX) Price Target to $34.00

Flex (NASDAQ:FLEX) had its target price lifted by Barclays from $30.00 to $34.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. StockNews.com began coverage on Flex in a research note on Wednesday, March 6th. They issued a hold rating on the stock. Craig Hallum downgraded shares of Flex from a buy rating to a hold rating and decreased their price target for the company from $28.00 to $27.00 in a research note on Thursday. The Goldman Sachs Group increased their price objective on shares of Flex from $29.00 to $37.00 and gave the stock a buy rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on Flex from $32.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Flex presently has an average rating of Moderate Buy and an average price target of $32.83.

Flex Price Performance

Shares of NASDAQ FLEX opened at $27.90 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $11.75 billion, a PE ratio of 12.13, a P/E/G ratio of 1.74 and a beta of 1.18. The firm has a fifty day simple moving average of $28.46 and a 200 day simple moving average of $26.85. Flex has a twelve month low of $19.85 and a twelve month high of $30.93.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Michael P. Hartung sold 43,381 shares of Flex stock in a transaction on 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 $4,723,253.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at $830,009.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,943 shares of company stock valued at $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Flex

Hedge funds have recently added to or reduced their stakes in the stock. Troluce Capital Advisors LLC grew its holdings in Flex by 101.2% during the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock valued at $14,858,000 after purchasing an additional 48,097,992 shares during the period. Norges Bank bought a new position in Flex during the fourth quarter worth about $165,000,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Flex by 211.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock valued at $38,032,000 after buying an additional 956,676 shares in the last quarter. California Public Employees Retirement System grew its stake in Flex by 63.9% in the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after buying an additional 944,928 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Flex by 57.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock valued at $48,985,000 after acquiring an additional 665,076 shares during the period. 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.