Flex (NASDAQ:FLEX) Price Target Raised to $84.00

Flex (NASDAQ:FLEX) had its price objective lifted by JPMorgan Chase & Co. from $75.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Barclays raised their price objective on Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Robert W. Baird assumed coverage on Flex in a research note on Thursday, March 12th. They issued an “outperform” rating and a $70.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Flex Price Performance

FLEX stock opened at $81.83 on Thursday. The firm has a 50 day simple moving average of $66.82 and a two-hundred day simple moving average of $63.86. The stock has a market cap of $30.09 billion, a PE ratio of 36.70, a P/E/G ratio of 1.74 and a beta of 1.22. Flex has a one year low of $30.05 and a one year high of $82.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. Flex had a net margin of 3.17% and a return on equity of 20.99%. The firm had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. On average, analysts predict that Flex will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the transaction, the chief operating officer owned 233,636 shares in the company, valued at approximately $13,754,151.32. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. State Street Corp increased its stake in shares of Flex by 17.8% in the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after buying an additional 2,126,440 shares during the period. Geode Capital Management LLC increased its stake in shares of Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after buying an additional 181,266 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Flex by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,631,237 shares of the technology company’s stock valued at $326,443,000 after buying an additional 355,061 shares during the last quarter. Finally, Norges Bank purchased a new stake in Flex during the 4th quarter valued at $319,756,000. 94.30% of the stock is currently owned by institutional investors.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.