Flex Ltd. (NASDAQ:FLEX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Flex Ltd. (NASDAQ:FLEX) have received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $126.33.

A number of analysts recently weighed in on FLEX shares. The Goldman Sachs Group decreased their price target on shares of Flex from $154.00 to $145.00 in a research note on Friday, October 16th. Barclays dropped their price objective on shares of Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Raymond James Financial set a $170.00 target price on shares of Flex and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings lowered Flex from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th.

Flex Trading Down 0.2%

FLEX opened at $76.55 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. Flex has a 52 week low of $53.07 and a 52 week high of $166.86. The business’s 50 day moving average is $108.70 and its two-hundred day moving average is $119.28. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 0.39 and a beta of 1.67.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. The business had revenue of $7.93 billion during the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. On average, research analysts predict that Flex will post 4.27 EPS for the current year.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total transaction of $332,363.20. Following the completion of the sale, the insider directly owned 243,175 shares of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Flex by 14.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the technology company’s stock valued at $86,000 after acquiring an additional 99 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Flex by 7.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,449 shares of the technology company’s stock valued at $223,000 after buying an additional 100 shares during the last quarter. JSF Financial LLC lifted its stake in shares of Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after buying an additional 115 shares during the period. WealthPlan Investment Management LLC increased its position in Flex by 5.3% during the third quarter. WealthPlan Investment Management LLC now owns 2,312 shares of the technology company’s stock worth $254,000 after purchasing an additional 116 shares during the last quarter. Finally, Glenview Trust Co increased its holdings in shares of Flex by 3.4% during the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Flex

Flex Ltd. (NASDAQ: FLEX) is a global manufacturing and supply chain solutions provider. The company helps original equipment manufacturers design, engineer, manufacture, distribute and service products across their lifecycles.

Flex serves customers in industries including automotive, communications, consumer electronics, health care, industrial, lifestyle and cloud infrastructure. Its capabilities include product design and engineering, printed circuit board assembly, systems integration, supply chain management, logistics, and aftermarket services.

The company was founded in 1969 as Flextronics and later adopted the name Flex.