Barclays Forecasts Strong Price Appreciation for Flex (NASDAQ:FLEX) Stock

Flex (NASDAQ:FLEX) had its price objective upped by Barclays from $39.00 to $43.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 21.20% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flex has an average rating of “Buy” and a consensus price target of $40.83.

Flex Stock Performance

Shares of FLEX opened at $35.48 on Thursday. The stock has a 50 day moving average of $32.76 and a 200 day moving average of $31.13. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 2.11 and a beta of 1.09. Flex has a 12 month low of $21.84 and a 12 month high of $36.98. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

Insider Activity

In other Flex news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at $5,209,197.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the 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 directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,028 shares of company stock worth $933,511. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flex

Institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in Flex in the third quarter valued at approximately $29,000. Kathleen S. Wright Associates Inc. bought a new stake in Flex during the 3rd quarter valued at $39,000. Quarry LP bought a new stake in Flex in the 2nd quarter worth $43,000. American Capital Advisory LLC purchased a new position in shares of Flex in the second quarter valued at about $46,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Flex during the third quarter valued at about $74,000. 94.30% of the stock is currently 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.