Flex Ltd. (NASDAQ:FLEX) Receives $43.67 Average Target Price from Analysts

Flex Ltd. (NASDAQ:FLEX) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.67.

FLEX has been the topic of a number of analyst reports. Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. bought a new position in shares of Flex in the third quarter worth about $29,000. Huntington National Bank increased its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. R Squared Ltd bought a new position in Flex in the 4th quarter valued at approximately $35,000. Kathleen S. Wright Associates Inc. acquired a new stake in Flex in the third quarter valued at approximately $39,000. Finally, Quarry LP acquired a new position in shares of Flex during the second quarter worth $43,000. Institutional investors own 94.30% of the company’s stock.

Flex Trading Up 3.0 %

Shares of NASDAQ:FLEX opened at $43.18 on Friday. The stock has a market cap of $16.74 billion, a PE ratio of 17.41, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex has a 12-month low of $24.05 and a 12-month high of $45.10. The business has a 50 day moving average of $40.07 and a 200-day moving average of $35.70.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. As a group, equities research analysts forecast that Flex will post 2.33 earnings per share for the current year.

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.