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

Flex Ltd. (NASDAQ:FLEX) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $115.70.

A number of research firms recently weighed in on FLEX. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. KeyCorp increased their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Flex in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group increased their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th.

Flex Stock Performance

Shares of Flex stock traded down $4.14 on Friday, reaching $135.80. 2,723,100 shares of the stock were exchanged, compared to its average volume of 9,241,478. The firm has a market capitalization of $49.75 billion, a PE ratio of 58.28, a PEG ratio of 0.71 and a beta of 1.64. Flex has a 1-year low of $47.83 and a 1-year high of $166.86. The business has a fifty day moving average price of $142.50 and a two-hundred day moving average price of $93.60. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

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

Insider Activity at Flex

In other news, CEO Revathi Advaithi sold 197,879 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the completion of the sale, the chief executive officer directly owned 623,466 shares in the company, valued at approximately $89,978,613.12. This trade represents a 24.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. This trade represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. JSF Financial LLC grew its position in shares of Flex by 0.6% during the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after buying an additional 115 shares during the last quarter. Glenview Trust Co grew its holdings in shares of Flex by 3.4% during the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after purchasing an additional 125 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of Flex by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after purchasing an additional 163 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors 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.