Flex (NASDAQ:FLEX) Given New $48.00 Price Target at Stifel Nicolaus

Flex (NASDAQ:FLEX) had its price objective increased by Stifel Nicolaus from $40.00 to $48.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.67.

Flex Stock Performance

Shares of FLEX stock opened at $38.17 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company’s fifty day moving average price is $36.97 and its two-hundred day moving average price is $33.15. The firm has a market capitalization of $14.80 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.46 and a beta of 1.10. Flex has a 12 month low of $21.84 and a 12 month high of $42.47.

Insider Buying and Selling

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Institutional Trading of Flex

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Flex in the 3rd quarter valued at approximately $29,000. Huntington National Bank grew its position in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of Flex during the 3rd quarter worth $39,000. Quarry LP bought a new position in shares of Flex during the 2nd quarter valued at $43,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Flex in the 2nd quarter valued at $46,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

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.