Stifel Nicolaus Increases Flex (NASDAQ:FLEX) Price Target to $48.00

Flex (NASDAQ:FLEX) had its price target increased by stock analysts at Stifel Nicolaus from $40.00 to $48.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 25.79% from the stock’s current price.

FLEX has been the subject of a number of other reports. KeyCorp started coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flex has an average rating of “Buy” and a consensus price target of $42.67.

Flex Trading Down 1.4 %

NASDAQ:FLEX traded down $0.53 during trading hours on Tuesday, hitting $38.16. The company had a trading volume of 2,216,655 shares, compared to its average volume of 4,379,473. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock has a 50-day moving average price of $36.64 and a 200 day moving average price of $33.05. The company has a market capitalization of $14.80 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Flex has a 52 week low of $21.84 and a 52 week high of $42.47.

Insider Transactions at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Flex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Flex during the 3rd quarter valued at about $29,000. Huntington National Bank raised its stake in 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 purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in Flex in the 3rd quarter worth approximately $39,000. Quarry LP bought a new position in Flex in the 2nd quarter worth approximately $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex during the second quarter valued at approximately $46,000. Hedge funds and other 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.