Flex (NASDAQ:FLEX) Hits New 12-Month High – Still a Buy?

Flex Ltd. (NASDAQ:FLEX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $72.98 and last traded at $73.3820, with a volume of 13071 shares trading hands. The stock had previously closed at $68.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Robert W. Baird assumed coverage on shares of Flex in a research report on Thursday, March 12th. They issued an “outperform” rating and a $70.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Barclays increased their price target on shares of Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.10.

Flex Trading Up 2.5%

The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.60 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $64.85 and its 200 day simple moving average is $62.92.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. Flex’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. 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, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, COO Kwang Hooi Tan sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $58.87, for a total transaction of $1,030,225.00. Following the completion of the sale, the chief operating officer owned 233,636 shares in the company, valued at approximately $13,754,151.32. This trade represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Flex

Hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in shares of Flex during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust increased its position in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after acquiring an additional 166 shares during the period. Frazier Financial Advisors LLC bought a new position in Flex during the fourth quarter worth about $28,000. CENTRAL TRUST Co increased its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares during the period. Finally, Gables Capital Management Inc. bought a new position in Flex during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.