Flex (NASDAQ:FLEX) Upgraded at KeyCorp

Flex (NASDAQ:FLEX) was upgraded by stock analysts at KeyCorp to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

A number of other research firms have also commented on FLEX. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Barclays lifted their price target on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $39.17.

Flex Stock Down 0.4 %

FLEX opened at $34.26 on Monday. The company has a market capitalization of $13.66 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $35.84. The business has a 50-day moving average of $32.27 and a 200-day moving average of $30.86.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Equities research analysts forecast that Flex will post 2.06 EPS for the current fiscal year.

Insider Activity at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now owns 175,468 shares in the company, valued at $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Flex news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,028 shares of company stock worth $904,530. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Flex

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Flex by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,829,503 shares of the technology company’s stock worth $177,567,000 after purchasing an additional 248,233 shares during the last quarter. Global Assets Advisory LLC increased its holdings in shares of Flex by 400.9% during the first quarter. Global Assets Advisory LLC now owns 53,097 shares of the technology company’s stock worth $1,519,000 after buying an additional 42,496 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Flex by 9.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 75,882 shares of the technology company’s stock valued at $2,171,000 after acquiring an additional 6,528 shares during the last quarter. Deltec Asset Management LLC boosted its holdings in shares of Flex by 6.5% in the 1st quarter. Deltec Asset Management LLC now owns 311,500 shares of the technology company’s stock worth $8,912,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC grew its position in Flex by 28.9% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 11,111 shares of the technology company’s stock worth $318,000 after acquiring an additional 2,488 shares during the last quarter. 94.30% of the stock is currently owned by 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.