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

by · The Markets Daily

Flex (NASDAQ:FLEX – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

FLEX has been the subject of several other research reports. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Stifel Nicolaus lifted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $39.17.

Check Out Our Latest Stock Report on FLEX

Flex Price Performance

Shares of NASDAQ FLEX traded down $0.58 during midday trading on Tuesday, hitting $34.67. The stock had a trading volume of 5,097,045 shares, compared to its average volume of 4,161,647. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Flex has a 1 year low of $21.84 and a 1 year high of $35.84. The company has a market capitalization of $13.77 billion, a PE ratio of 15.55, a P/E/G ratio of 2.01 and a beta of 1.09. The stock has a 50 day simple moving average of $32.55 and a 200-day simple moving average of $31.03.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares in the company, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their position. 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 ninety days. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Flex

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex in the third quarter worth about $29,000. Kathleen S. Wright Associates Inc. purchased a new position in Flex in the 3rd quarter worth approximately $39,000. Quarry LP acquired a new stake in Flex in the second quarter valued at approximately $43,000. American Capital Advisory LLC purchased a new stake in shares of Flex during the second quarter valued at approximately $46,000. Finally, J.Safra Asset Management Corp lifted its position in shares of Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after purchasing an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Company Profile

(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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