Flex (NASDAQ:FLEX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research note published on Thursday morning.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Barclays boosted 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. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.67.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $42.39 on Thursday. The company has a market capitalization of $16.44 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The company’s fifty day moving average price is $39.14 and its 200 day moving average price is $34.46. Flex has a 1 year low of $21.84 and a 1 year high of $44.45.

Insiders Place Their Bets

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’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 directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Flex

Several large investors have recently added to or reduced their stakes in FLEX. First Horizon Advisors Inc. raised its holdings in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the period. Stephens Inc. AR raised its stake in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after purchasing an additional 361 shares during the period. Raymond James Trust N.A. boosted its holdings in Flex by 2.0% in the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after purchasing an additional 413 shares during the last quarter. Huntington National Bank grew its stake in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. Finally, Wahed Invest LLC raised its position in shares of Flex by 7.4% during the 3rd quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock valued at $322,000 after buying an additional 667 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

About Flex

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.