Flex (NASDAQ:FLEX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities analysts also recently commented on FLEX. KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays lifted their price target on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flex currently has an average rating of “Buy” and an average target price of $42.67.

Flex Trading Up 1.0 %

NASDAQ:FLEX opened at $44.27 on Friday. Flex has a 12-month low of $22.57 and a 12-month high of $45.10. The firm has a market cap of $17.17 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $39.79 and a 200 day moving average price of $35.04.

Insiders Place Their Bets

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

Institutional Trading of Flex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Calamos Advisors LLC grew its stake in shares of Flex by 712.3% in the 4th quarter. Calamos Advisors LLC now owns 161,000 shares of the technology company’s stock valued at $6,181,000 after purchasing an additional 141,179 shares during the last quarter. One Wealth Advisors LLC purchased a new position in Flex in the 4th quarter valued at $368,000. DAVENPORT & Co LLC acquired a new position in Flex in the 4th quarter valued at $220,000. Caprock Group LLC purchased a new position in Flex during the 4th quarter worth $229,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Flex by 5.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,571 shares of the technology company’s stock worth $19,639,000 after acquiring an additional 25,223 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

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.