Flex Ltd. (NASDAQ:FLEX) Receives $38.40 Consensus Target Price from Brokerages

by · The Cerbat Gem

Shares of Flex Ltd. (NASDAQ:FLEX – Get Free Report) have earned a consensus rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $38.40.

FLEX has been the subject of several research reports. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a research report on Thursday, July 25th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Barclays lifted their target price on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th.

Read Our Latest Stock Report on FLEX

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock valued at $904,530 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Flex

A number of institutional investors have recently added to or reduced their stakes in FLEX. Boston Partners boosted its position in Flex by 113.8% during the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after purchasing an additional 10,201,162 shares during the period. Merewether Investment Management LP purchased a new stake in Flex during the 2nd quarter worth $72,808,000. Westfield Capital Management Co. LP purchased a new stake in Flex during the 1st quarter worth $51,543,000. Point72 Asset Management L.P. boosted its position in Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after purchasing an additional 792,700 shares during the period. Finally, Troluce Capital Advisors LLC lifted its holdings in Flex by 104.3% in the 4th quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after buying an additional 574,308 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Trading Down 0.5 %

Shares of Flex stock opened at $32.52 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. Flex has a 1 year low of $21.84 and a 1 year high of $34.42. The company has a market capitalization of $12.97 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.92 and a beta of 1.09. The business has a 50 day moving average price of $31.14 and a 200 day moving average price of $30.28.

Flex (NASDAQ:FLEX – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Sell-side analysts anticipate that Flex will post 2.06 EPS for the current fiscal year.

About Flex

(Get Free Report

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.

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