Barclays Raises Flex (NASDAQ:FLEX) Price Target to $43.00

Flex (NASDAQ:FLEX) had its price target hoisted by Barclays from $39.00 to $43.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued reports about the company. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.83.

Flex Stock Up 2.7 %

FLEX traded up $0.95 during trading hours on Thursday, hitting $35.62. 901,298 shares of the company’s stock were exchanged, compared to its average volume of 4,149,630. Flex has a 1-year low of $21.84 and a 1-year high of $36.98. The stock’s 50-day moving average is $32.76 and its two-hundred day moving average is $31.13. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.11 and a beta of 1.09.

Insider Activity

In related news, 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 value of $284,110.92. Following the sale, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $933,511 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flex

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex during the 3rd quarter valued at $29,000. Kathleen S. Wright Associates Inc. purchased a new position in Flex in the 3rd quarter valued at approximately $39,000. Quarry LP purchased a new stake in shares of Flex in the second quarter worth $43,000. American Capital Advisory LLC purchased a new position in shares of Flex in the second quarter worth about $46,000. Finally, Silicon Valley Capital Partners bought a new position in Flex during the 3rd quarter valued at approximately $74,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.