Flex (NASDAQ:FLEX) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Flex (NASDAQ:FLEX) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $52.00 target price on the technology company’s stock.

FLEX has been the subject of a number of other reports. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. Barclays boosted their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Craig Hallum upped their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.33.

Flex Stock Down 0.6 %

Shares of NASDAQ:FLEX opened at $42.78 on Tuesday. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The business’s 50-day moving average is $40.34 and its 200-day moving average is $36.02. Flex has a 1 year low of $25.27 and a 1 year high of $45.10.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Equities research analysts predict that Flex will post 2.33 earnings per share for the current year.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. increased its position in Flex by 635.8% in the fourth quarter. Prudential Financial Inc. now owns 135,190 shares of the technology company’s stock worth $5,190,000 after purchasing an additional 116,818 shares during the last quarter. Corebridge Financial Inc. bought a new position in Flex during the fourth quarter valued at $16,742,000. United Services Automobile Association bought a new position in Flex during the fourth quarter valued at $982,000. Vanguard Group Inc. increased its position in Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after acquiring an additional 817,215 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its position in Flex by 20.8% during the fourth quarter. Samalin Investment Counsel LLC now owns 22,055 shares of the technology company’s stock valued at $847,000 after acquiring an additional 3,801 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

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.