Flex Ltd. (NASDAQ:FLEX) Receives $114.20 Consensus Price Target from Analysts

Shares of Flex Ltd. (NASDAQ:FLEX) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $114.20.

FLEX has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a report on Friday, July 17th. The Goldman Sachs Group dropped their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Raymond James Financial set a $170.00 target price on shares of Flex and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Barclays lowered their price target on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, July 30th.

Flex Stock Performance

NASDAQ:FLEX opened at $121.35 on Thursday. The stock’s 50-day simple moving average is $137.37 and its 200 day simple moving average is $101.74. The firm has a market capitalization of $44.83 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. 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 twelve month low of $47.83 and a twelve month high of $166.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The firm 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, analysts anticipate that Flex will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, CEO Revathi Advaithi sold 39,188 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.18, for a total value of $5,689,313.84. Following the completion of the transaction, the chief executive officer owned 584,278 shares of the company’s stock, valued at $84,825,480.04. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.19, for a total value of $1,303,951.39. Following the completion of the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at $36,086,393.74. This represents a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 754,195 shares of company stock worth $108,044,723 over the last three months. 0.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flex

Institutional investors have recently added to or reduced their stakes in the business. Foster & Motley Inc. acquired a new position in Flex in the 2nd quarter valued at approximately $727,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Flex during the second quarter valued at $253,000. Plato Investment Management Ltd acquired a new position in shares of Flex during the second quarter worth $2,146,000. Insight Wealth Strategies LLC bought a new stake in shares of Flex in the second quarter worth $4,320,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Flex in the second quarter valued at $276,000. 94.30% of the stock is owned by institutional investors.

Flex Company Profile

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.