Flex Ltd. (NASDAQ:FLEX) Given Consensus Rating of “Moderate Buy” by Analysts

Flex Ltd. (NASDAQ:FLEX) has received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $115.70.

A number of research firms have recently weighed in on FLEX. Barclays lifted their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. KeyCorp upped their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the transaction, the insider owned 253,199 shares of the company’s stock, valued at $36,582,191.52. The trade was a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,657 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the transaction, the chief operating officer directly owned 257,527 shares in the company, valued at $37,207,500.96. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Flex in the 4th quarter valued at approximately $260,000. Goldman Sachs Group Inc. boosted its position in Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after purchasing an additional 211,046 shares during the period. Empowered Funds LLC acquired a new position in Flex during the first quarter valued at approximately $397,000. EverSource Wealth Advisors LLC grew its stake in Flex by 63.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after buying an additional 1,031 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 29,821 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of Flex stock traded down $4.14 during trading on Friday, hitting $135.80. 2,723,100 shares of the stock were exchanged, compared to its average volume of 9,241,478. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex has a 12 month low of $47.83 and a 12 month high of $166.86. The stock’s fifty day moving average is $142.50 and its 200 day moving average is $93.60. The stock has a market cap of $49.75 billion, a PE ratio of 58.28, a P/E/G ratio of 0.71 and a beta of 1.64.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion during the quarter. As a group, sell-side analysts anticipate that Flex will post 4.15 EPS for the current year.

Flex Company Profile

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.