Flex Ltd. (NASDAQ:FLEX) Receives $44.33 Consensus PT from Analysts

Flex Ltd. (NASDAQ:FLEX) has earned an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $44.33.

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Barclays increased their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th.

Flex Stock Up 0.3 %

FLEX stock opened at $37.89 on Wednesday. Flex has a one year low of $25.27 and a one year high of $45.10. The stock has a market capitalization of $14.52 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The company has a fifty day moving average of $41.09 and a 200-day moving average of $36.94.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, analysts expect that Flex will post 2.33 EPS for the current year.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flex

A number of hedge funds have recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. purchased a new position in shares of Flex in the 3rd quarter worth $29,000. Huntington National Bank increased its stake in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares during the last quarter. R Squared Ltd purchased a new position in shares of Flex in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Flex in the 4th quarter valued at about $35,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Flex during the 4th quarter worth about $38,000. 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.