Flex (NASDAQ:FLEX) Price Target Raised to $37.00 at Stifel Nicolaus

Flex (NASDAQ:FLEX) had its price objective lifted by equities researchers at Stifel Nicolaus from $32.00 to $37.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 19.28% from the company’s current price.

Several other equities analysts have also recently weighed in on FLEX. JPMorgan Chase & Co. raised their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Barclays lifted their price target on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.40.

Flex Stock Down 2.3 %

Shares of FLEX traded down $0.74 during midday trading on Thursday, hitting $31.02. The stock had a trading volume of 488,359 shares, compared to its average volume of 4,521,046. The company has a 50 day simple moving average of $31.05 and a two-hundred day simple moving average of $28.52. Flex has a twelve month low of $21.84 and a twelve month high of $34.12. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a return on equity of 16.46% and a net margin of 3.58%. On average, analysts anticipate that Flex will post 2.06 EPS for the current year.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 1,275 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $39,907.50. Following the completion of the sale, the chief accounting officer now directly owns 32,510 shares in the company, valued at $1,017,563. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Michael D. Capellas sold 78,872 shares of Flex stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the sale, the director now directly owns 219,037 shares in the company, valued at $7,368,404.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $39,907.50. Following the completion of the sale, the chief accounting officer now directly owns 32,510 shares in the company, valued at approximately $1,017,563. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 804,542 shares of company stock worth $25,147,972. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Flex

Several institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its holdings in Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after buying an additional 471 shares during the period. Veracity Capital LLC lifted its holdings in Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after buying an additional 599 shares during the period. Global Retirement Partners LLC lifted its holdings in Flex by 8.4% in the fourth quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock valued at $266,000 after buying an additional 679 shares during the period. Resonant Capital Advisors LLC raised its holdings in shares of Flex by 8.6% during the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock valued at $247,000 after purchasing an additional 683 shares during the period. Finally, CWM LLC raised its holdings in shares of Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after purchasing an additional 773 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.