Flex (NASDAQ:FLEX) Stock Price Expected to Rise, Craig Hallum Analyst Says

Flex (NASDAQ:FLEX) had its target price boosted by Craig Hallum from $39.00 to $45.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms also recently issued reports on FLEX. Stifel Nicolaus lifted their price objective on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Finally, Barclays upped their price objective on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Flex currently has a consensus rating of “Buy” and an average target price of $40.83.

Flex Stock Up 2.3 %

Shares of FLEX opened at $35.48 on Thursday. The business’s 50 day moving average is $32.81 and its 200 day moving average is $31.23. The company has a market capitalization of $14.09 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. 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 news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 directly owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,028 shares of company stock valued at $933,511. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Flex

A number of hedge funds have recently bought and sold shares of FLEX. Raymond James Trust N.A. lifted its position in shares of Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after acquiring an additional 360 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after buying an additional 361 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after buying an additional 471 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Flex by 8.6% in the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock valued at $247,000 after buying an additional 683 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its holdings in Flex by 6.9% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock valued at $375,000 after purchasing an additional 725 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.