Brokerages Set Flex Ltd. (NASDAQ:FLEX) Price Target at $39.17

Shares of Flex Ltd. (NASDAQ:FLEX) have earned an average recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $39.17.

Several research firms have recently commented on FLEX. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th.

Flex Price Performance

NASDAQ FLEX opened at $35.78 on Thursday. The firm’s fifty day simple moving average is $32.61 and its two-hundred day simple moving average is $31.08. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. Flex has a 12-month low of $21.84 and a 12-month high of $36.98. The firm has a market capitalization of $14.21 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.01 and a beta of 1.09.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $933,511 over the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Silicon Valley Capital Partners acquired a new position in shares of Flex in the third quarter worth about $74,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after purchasing an additional 257,975 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex during the third quarter worth about $29,000. Lowe Brockenbrough & Co. Inc. increased its stake in shares of Flex by 6.9% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock worth $375,000 after purchasing an additional 725 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Flex by 3.9% during the third quarter. New York State Common Retirement Fund now owns 1,345,604 shares of the technology company’s stock worth $44,984,000 after purchasing an additional 50,155 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Flex

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.