Flex Ltd. (NASDAQ:FLEX) Receives $114.20 Average Price Target from Brokerages

Flex Ltd. (NASDAQ:FLEX) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $114.20.

Several equities research analysts recently weighed in on FLEX shares. Zacks Research lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Barclays cut their price target on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Raymond James Financial set a $170.00 price objective on Flex and gave the stock an “outperform” rating in a research note on Wednesday, July 29th.

Insider Activity

In other news, insider Michael P. Hartung sold 22,627 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the completion of the transaction, the insider owned 253,199 shares of the company’s stock, valued at approximately $36,582,191.52. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the transaction, the chief executive officer owned 623,466 shares of the company’s stock, valued at $89,978,613.12. This represents a 24.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 459,938 shares of company stock worth $67,020,113. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Frazier Financial Advisors LLC bought a new stake in shares of Flex during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its position in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the period. Gables Capital Management Inc. acquired a new stake in Flex in the 4th quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd raised its stake in Flex by 6,318.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after acquiring an additional 695 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its position in Flex by 58.1% during the 4th quarter. CENTRAL TRUST Co now owns 797 shares of the technology company’s stock worth $48,000 after acquiring an additional 293 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Flex stock opened at $105.95 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. Flex has a 12 month low of $53.07 and a 12 month high of $166.86. The company has a fifty day moving average price of $124.65 and a two-hundred day moving average price of $108.49. The company has a market cap of $39.14 billion, a PE ratio of 40.91, a P/E/G ratio of 0.54 and a beta of 1.67.

Flex (NASDAQ:FLEX) last issued its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The company had revenue of $7.93 billion for the quarter. Research analysts expect that Flex will post 4.27 earnings per share for the current year.

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.