Brokerages Set Flex Ltd. (NASDAQ:FLEX) Target Price at $44.33

Shares of Flex Ltd. (NASDAQ:FLEX) have received a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $44.33.

A number of brokerages recently weighed in on FLEX. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target for the company.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Flex

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Flex by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after buying an additional 344,773 shares during the period. Boston Partners raised its stake in shares of Flex by 2.2% in the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock valued at $1,006,436,000 after acquiring an additional 569,916 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Flex by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock worth $472,155,000 after acquiring an additional 817,215 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Flex by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company’s stock worth $326,833,000 after purchasing an additional 916,085 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Down 1.7 %

Flex stock opened at $36.80 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The stock has a market capitalization of $14.10 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The business has a 50 day simple moving average of $39.57 and a 200-day simple moving average of $37.52. Flex has a 12 month low of $25.27 and a 12 month high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, analysts anticipate that Flex will post 2.33 EPS for the current fiscal year.

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.