Flex (NASDAQ:FLEX) Given New $43.00 Price Target at Barclays

Flex (NASDAQ:FLEX) had its target price hoisted by Barclays from $39.00 to $43.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus upped 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. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average price target of $40.83.

Flex Price Performance

FLEX stock opened at $35.48 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $14.09 billion, a PE ratio of 15.70, a P/E/G ratio of 2.05 and a beta of 1.08. Flex has a 12-month low of $21.84 and a 12-month high of $36.98. The business’s fifty day moving average price is $32.81 and its 200 day moving average price is $31.21.

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 value 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 $8,494,237.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $933,511 in the last three months. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flex

Hedge funds have recently bought and sold shares of the company. Creative Planning increased its stake in Flex by 0.6% in the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after purchasing an additional 839 shares in the last quarter. SG Americas Securities LLC increased its stake in Flex by 441.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 38,711 shares in the last quarter. Hsbc Holdings PLC increased its stake in Flex by 254.9% in the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after purchasing an additional 36,465 shares in the last quarter. Twin Tree Management LP increased its stake in Flex by 29,912.0% in the 1st quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 96,915 shares in the last quarter. Finally, Valliance Asset Management Ltd purchased a new position in Flex in the 2nd quarter valued at approximately $2,654,000. 94.30% of the stock is owned by hedge funds and other 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.