Flex (NASDAQ:FLEX) Price Target Raised to $49.00

Flex (NASDAQ:FLEX) had its price target boosted by Barclays from $43.00 to $49.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 17.65% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus upped their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp began coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $43.67.

Flex Stock Down 1.0 %

FLEX opened at $41.65 on Thursday. Flex has a one year low of $23.64 and a one year high of $45.10. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.61 and a beta of 1.10. The business’s fifty day moving average is $39.96 and its two-hundred day moving average is $35.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.83%. Analysts anticipate that Flex will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Flex

A number of institutional investors and hedge funds have recently made changes to their positions in FLEX. Janus Henderson Group PLC grew its position in Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after acquiring an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Geode Capital Management LLC increased its position in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp raised its holdings in Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after buying an additional 603,208 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.