Flex Ltd. (NASDAQ:FLEX) Given Average Rating of “Moderate Buy” by Brokerages

Flex Ltd. (NASDAQ:FLEX) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $115.70.

FLEX has been the topic of a number of research analyst reports. Barclays lifted their target price on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Stifel Nicolaus lifted their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. The Goldman Sachs Group lifted their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $149.22 on Tuesday. The company has a market cap of $54.67 billion, a P/E ratio of 64.04, a P/E/G ratio of 0.79 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex has a 52 week low of $43.15 and a 52 week high of $166.86. The business has a fifty day simple moving average of $117.49 and a 200-day simple moving average of $82.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. Equities research analysts forecast that Flex will post 4.15 EPS for the current year.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 114,090 shares of Flex stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $16,242,993.30. Following the transaction, the chief executive officer owned 689,022 shares in the company, valued at approximately $98,096,062.14. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,216 shares of Flex stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the transaction, the insider owned 232,706 shares in the company, valued at $33,132,680.28. The trade was a 8.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 345,012 shares of company stock valued at $48,508,103 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Flex during the first quarter worth about $4,949,000. Segall Bryant & Hamill LLC acquired a new position in shares of Flex during the first quarter worth about $446,000. Western Wealth Management LLC acquired a new position in shares of Flex during the first quarter worth about $65,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Flex during the first quarter worth about $5,891,000. Finally, Amundi lifted its stake in shares of Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock worth $97,825,000 after purchasing an additional 200,553 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Company Profile

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.