Flex (NASDAQ:FLEX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Flex Ltd. (NASDAQ:FLEX) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $33.64 and traded as high as $38.94. Flex shares last traded at $38.63, with a volume of 1,760,148 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $42.67.

Flex Trading Down 1.3 %

The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $37.97 and its 200-day moving average is $33.64. The company has a market cap of $14.98 billion, a PE ratio of 17.09, a P/E/G ratio of 2.43 and a beta of 1.10.

Insider Activity at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently modified their holdings of FLEX. Harbor Capital Advisors Inc. purchased a new stake in Flex in the third quarter worth $29,000. Huntington National Bank lifted its holdings in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in Flex in the 3rd quarter valued at about $39,000. Quarry LP bought a new position in Flex in the 2nd quarter worth about $43,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.