Flex (NASDAQ:FLEX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a report released on Thursday.

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

Flex Trading Up 1.1 %

FLEX opened at $42.39 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The stock’s 50 day moving average price is $39.14 and its 200-day moving average price is $34.46. Flex has a one year low of $21.84 and a one year high of $44.45. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 2.56 and a beta of 1.10.

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s 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 sale, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLEX. Janus Henderson Group PLC boosted its position in Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after buying an additional 344,773 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flex by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after purchasing an additional 127,688 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Flex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares during the period. JPMorgan Chase & Co. boosted its holdings in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

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.