Flex Ltd. (NASDAQ:FLEX) Receives Consensus Rating of “Moderate Buy” from Analysts

Flex Ltd. (NASDAQ:FLEX) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $65.8750.

Several research firms have recently weighed in on FLEX. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. Finally, Argus set a $85.00 price target on Flex in a report on Friday, October 31st.

Insider Activity

In related news, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total transaction of $933,150.00. Following the sale, the insider directly owned 211,198 shares in the company, valued at $13,138,627.58. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Watkins sold 20,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the transaction, the director owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 107,500 shares of company stock worth $6,593,750 over the last ninety days. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co raised its holdings in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Flex during the 2nd quarter valued at $26,000. Concord Wealth Partners bought a new stake in shares of Flex in the 2nd quarter worth $28,000. CNB Bank acquired a new stake in shares of Flex in the second quarter valued at $30,000. Finally, Harbour Investments Inc. boosted its stake in Flex by 74.7% during the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after buying an additional 301 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Down 0.7%

Shares of FLEX opened at $63.78 on Tuesday. The stock has a market cap of $23.59 billion, a PE ratio of 28.22, a P/E/G ratio of 1.71 and a beta of 1.26. Flex has a 12 month low of $25.11 and a 12 month high of $72.22. The stock’s 50-day moving average is $62.30 and its two-hundred day moving average is $55.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.