Flex (NASDAQ:FLEX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Flex from $34.00 to $40.00 and gave the company an overweight rating in a research note on Tuesday, July 23rd. Craig Hallum upgraded shares of Flex from a hold rating to a buy rating and increased their price target for the company from $27.00 to $39.00 in a research note on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of Flex from $32.00 to $37.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Barclays increased their price target on shares of Flex from $34.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $38.40.

Flex Stock Down 6.8 %

FLEX stock opened at $28.59 on Friday. The company’s 50 day moving average price is $31.10 and its 200 day moving average price is $28.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.40. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.03 and a beta of 1.12.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 1,670 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the sale, the chief accounting officer now directly owns 27,060 shares of the company’s stock, valued at $880,261.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Daniel Wendler sold 1,670 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the sale, the chief accounting officer now directly owns 27,060 shares of the company’s stock, valued at $880,261.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 7,037 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $220,258.10. Following the completion of the sale, the executive vice president now directly owns 171,344 shares of the company’s stock, valued at approximately $5,363,067.20. The disclosure for this sale can be found here. Insiders sold a total of 812,570 shares of company stock valued at $25,403,101 over the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners lifted its holdings in Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after acquiring an additional 10,201,162 shares during the period. LSV Asset Management increased its position in shares of Flex by 0.7% in the fourth quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after buying an additional 51,068 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after buying an additional 141,580 shares in the last quarter. Norges Bank purchased a new position in shares of Flex in the fourth quarter valued at $165,000,000. Finally, Sound Shore Management Inc. CT increased its position in shares of Flex by 3.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock valued at $117,942,000 after buying an additional 128,766 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.