StockNews.com Upgrades Flex (NASDAQ:FLEX) to “Buy”

Flex (NASDAQ:FLEX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other research firms have also weighed in on FLEX. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. KeyCorp began coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Finally, Barclays upped their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $42.67.

Flex Stock Up 0.8 %

NASDAQ FLEX opened at $42.72 on Thursday. Flex has a 52 week low of $22.02 and a 52 week high of $44.45. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 2.56 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $39.19 and a two-hundred day moving average of $34.55.

Insider Buying and Selling at Flex

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

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Veracity Capital LLC lifted its holdings in shares of Flex by 10.8% during the 4th quarter. Veracity Capital LLC now owns 16,870 shares of the technology company’s stock valued at $648,000 after purchasing an additional 1,644 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Flex in the fourth quarter valued at about $256,000. Atomi Financial Group Inc. boosted its holdings in Flex by 6.4% in the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after acquiring an additional 630 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in shares of Flex during the fourth quarter worth about $298,000. Finally, UMB Bank n.a. acquired a new position in shares of Flex during the fourth quarter valued at about $64,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

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.