Needham & Company LLC Increases Flex (FLEX) Price Target to $21.00

Flex (NASDAQ:FLEX) had its target price raised by Needham & Company LLC from $19.00 to $21.00 in a report issued on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 12.06% from the stock’s current price.

A number of other brokerages have also commented on FLEX. BidaskClub upgraded shares of Flex from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. UBS Group boosted their price objective on shares of Flex from $18.00 to $19.75 and gave the stock a “buy” rating in a report on Friday, October 27th. Argus boosted their price objective on shares of Flex from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $19.00 price objective on shares of Flex in a report on Friday, October 13th. Finally, Citigroup boosted their target price on shares of Flex from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Flex has an average rating of “Buy” and an average price target of $20.56.

Shares of Flex (NASDAQ FLEX) traded down $0.61 during mid-day trading on Friday, reaching $18.74. 7,277,418 shares of the company’s stock were exchanged, compared to its average volume of 4,063,694. Flex has a 52-week low of $14.70 and a 52-week high of $19.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.70. The firm has a market cap of $10,225.93, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.06 and a beta of 0.81.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Flex had a net margin of 2.15% and a return on equity of 20.80%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.50 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. research analysts predict that Flex will post 1.09 EPS for the current fiscal year.

In related news, Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.73, for a total transaction of $159,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $17.71, for a total transaction of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in FLEX. First Personal Financial Services grew its position in shares of Flex by 227.4% during the 4th quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock valued at $161,000 after buying an additional 6,233 shares during the last quarter. Woodmont Investment Counsel LLC bought a new stake in shares of Flex during the 3rd quarter valued at about $244,000. IFP Advisors Inc grew its position in shares of Flex by 13.6% during the 3rd quarter. IFP Advisors Inc now owns 27,978 shares of the technology company’s stock valued at $464,000 after buying an additional 3,353 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of Flex during the 3rd quarter valued at about $579,000. Finally, Regentatlantic Capital LLC grew its position in shares of Flex by 13.4% during the 4th quarter. Regentatlantic Capital LLC now owns 39,543 shares of the technology company’s stock valued at $711,000 after buying an additional 4,660 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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About Flex

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

Analyst Recommendations for Flex (NASDAQ:FLEX)

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