Flex Ltd. (NASDAQ:FLEX) Receives Average Recommendation of “Buy” from Analysts

Flex Ltd. (NASDAQ:FLEX) has earned an average rating of “Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $38.40.

A number of equities research analysts have recently issued reports on FLEX shares. JPMorgan Chase & Co. upped their target price 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 upped their target price for the company from $27.00 to $39.00 in a research note on Thursday, July 25th. Barclays upped their target price 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. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price 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.

Flex Stock Performance

Shares of FLEX stock opened at $32.52 on Friday. Flex has a 12 month low of $21.84 and a 12 month high of $34.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. The firm has a market capitalization of $12.97 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.92 and a beta of 1.09. The company’s fifty day moving average price is $31.14 and its two-hundred day moving average price is $30.28.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. On average, research analysts anticipate that Flex will post 2.06 earnings per share for the current fiscal year.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Flex news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the transaction, the insider now owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $904,530 in the last quarter. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in Flex in the 4th quarter worth about $34,000. Quarry LP bought a new position in shares of Flex in the second quarter valued at approximately $43,000. American Capital Advisory LLC bought a new position in shares of Flex in the second quarter valued at approximately $46,000. J.Safra Asset Management Corp boosted its holdings in shares of Flex by 623.6% in the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after acquiring an additional 2,538 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Flex in the second quarter valued at approximately $125,000. Institutional investors 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.