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

Flex Ltd. (NASDAQ:FLEX) has been assigned an average recommendation of “Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.33.

Several research firms have recently commented on FLEX. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th.

Flex Price Performance

Shares of FLEX opened at $33.18 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.43 and a beta of 1.07. Flex has a 52 week low of $25.27 and a 52 week high of $45.10. The stock has a 50 day moving average of $39.09 and a 200-day moving average of $37.58.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, analysts forecast that Flex will post 2.33 EPS for the current year.

Insider Activity at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC grew its stake in shares of Flex by 38.7% in the 3rd quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock worth $1,185,000 after purchasing an additional 9,892 shares during the last quarter. Pathstone Holdings LLC grew its position in Flex by 5.5% in the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock worth $2,018,000 after buying an additional 3,121 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Flex in the third quarter valued at $429,000. Advisors Asset Management Inc. lifted its position in shares of Flex by 7.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 51,254 shares of the technology company’s stock valued at $1,713,000 after acquiring an additional 3,627 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

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.