Flex (NASDAQ:FLEX) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays increased their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Stock Down 1.5%

FLEX opened at $119.25 on Thursday. Flex has a one year low of $47.83 and a one year high of $166.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock’s fifty day moving average is $143.16 and its 200-day moving average is $95.78. The company has a market capitalization of $43.69 billion, a PE ratio of 51.18, a P/E/G ratio of 0.63 and a beta of 1.64.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter. On average, equities analysts predict that Flex will post 4.18 EPS for the current fiscal year.

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 26,657 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the transaction, the chief operating officer directly owned 257,527 shares in the company, valued at approximately $37,207,500.96. The trade was a 9.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,627 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares of the company’s stock, valued at $36,582,191.52. The trade was a 8.20% 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. Over the last 90 days, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Flex

Institutional investors have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in shares of Flex in the fourth quarter worth approximately $28,000. Frazier Financial Advisors LLC purchased a new position in Flex during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its stake in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after buying an additional 166 shares during the period. Gables Capital Management Inc. purchased a new stake in Flex in the 4th quarter worth approximately $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after buying an additional 695 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.