Brokerages Set Flex Ltd. (NASDAQ:FLEX) Price Target at $44.33

Shares of Flex Ltd. (NASDAQ:FLEX) have earned a consensus recommendation of “Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.33.

FLEX has been the subject of a number of analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Finally, Barclays lifted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $34.46 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex has a 1-year low of $25.27 and a 1-year high of $45.10. The stock has a market capitalization of $13.20 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.43 and a beta of 1.07. The business has a 50-day moving average price of $39.28 and a two-hundred day moving average price of $37.48.

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

Insider Buying and Selling

In other news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % 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 Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently bought and sold shares of FLEX. R Squared Ltd acquired a new stake in shares of Flex in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Flex in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in Flex during the 4th quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.