Flex (NASDAQ:FLEX) Now Covered by Stifel Nicolaus

Investment analysts at Stifel Nicolaus started coverage on shares of Flex (NASDAQ:FLEX) in a report released on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $52.00 price target on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 20.90% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Barclays raised their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. KeyCorp started coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, Craig Hallum lifted their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Flex presently has an average rating of “Buy” and a consensus target price of $44.33.

Flex Trading Up 0.5 %

Shares of FLEX stock opened at $43.01 on Tuesday. The stock has a market cap of $16.48 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The business has a fifty day simple moving average of $40.50 and a 200-day simple moving average of $36.14.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Flex will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Flex

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter worth $29,000. R Squared Ltd acquired a new position in shares of Flex during the fourth quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Flex in the fourth quarter valued at about $38,000. Finally, Huntington National Bank raised its holdings in shares of 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 during the period. 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.