Flex (NASDAQ:FLEX) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Flex (NASDAQ:FLEX) from a strong-buy rating to a buy rating in a research note released on Sunday.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Flex in a report on Wednesday, November 12th. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. KeyCorp lifted their target price on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group boosted their price target on shares of Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.78.

Flex Stock Performance

NASDAQ FLEX opened at $64.42 on Friday. The company has a fifty day moving average price of $64.06 and a 200-day moving average price of $59.94. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88. Flex has a 1 year low of $25.11 and a 1 year high of $72.22.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, equities research analysts predict that Flex will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the transaction, the director directly owned 98,073 shares in the company, valued at $5,346,939.96. The trade was a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the sale, the chief financial officer owned 143,803 shares in the company, valued at $8,805,057.69. This trade represents a 12.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 71,406 shares of company stock valued at $4,262,489. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Flex

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. Norges Bank purchased a new position in Flex in the 2nd quarter worth approximately $291,362,000. State Street Corp increased its holdings in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Flex by 694,916.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after buying an additional 2,640,682 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Flex by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after acquiring an additional 2,459,511 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.