Craig Hallum Issues Positive Forecast for Flex (NASDAQ:FLEX) Stock Price

Flex (NASDAQ:FLEX) had its target price hoisted by Craig Hallum from $39.00 to $45.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Barclays boosted their target price on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.83.

Flex Price Performance

Flex stock traded up $0.95 during midday trading on Thursday, hitting $35.62. 901,298 shares of the company’s stock were exchanged, compared to its average volume of 4,149,630. The stock has a 50-day moving average price of $32.76 and a two-hundred day moving average price of $31.13. The company has a market cap of $14.14 billion, a P/E ratio of 15.34, a PEG ratio of 2.11 and a beta of 1.09. Flex has a 52-week low of $21.84 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,028 shares of company stock valued at $933,511. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLEX. Raymond James Trust N.A. increased its stake in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after buying an additional 360 shares during the period. Stephens Inc. AR raised its stake in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after acquiring an additional 361 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Flex by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after purchasing an additional 471 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of Flex by 8.6% during the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock worth $247,000 after purchasing an additional 683 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. boosted its holdings in 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 during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.