Flex Ltd. (NASDAQ:FLEX) Receives $42.67 Consensus Target Price from Analysts

Shares of Flex Ltd. (NASDAQ:FLEX) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $42.67.

FLEX has been the topic of a number of research reports. Barclays increased their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after buying an additional 344,773 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Flex by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after acquiring an additional 127,688 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 0.3 %

NASDAQ:FLEX opened at $41.06 on Tuesday. The stock’s 50-day moving average is $38.65 and its two-hundred day moving average is $34.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock has a market cap of $15.92 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $44.45.

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.