Flex Ltd. (NASDAQ:FLEX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Flex Ltd. (NASDAQ:FLEX) have been assigned an average recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $42.67.

A number of research analysts recently weighed in on the company. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays increased their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st.

Flex Stock Down 1.6 %

FLEX stock opened at $37.40 on Friday. Flex has a twelve month low of $21.84 and a twelve month high of $42.47. 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 firm has a market cap of $14.50 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The business has a 50 day moving average of $37.15 and a 200 day moving average of $33.21.

Insider Transactions at Flex

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

Hedge Funds Weigh In On Flex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in Flex during the third quarter valued at $29,000. Huntington National Bank lifted its position in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the third quarter valued at $39,000. Quarry LP purchased a new position in Flex during the second quarter valued at $43,000. Finally, American Capital Advisory LLC purchased a new position in Flex during the second quarter valued at $46,000. 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.