Flex (NASDAQ:FLEX) Stock Price Up 4.8% – Time to Buy?

Shares of Flex Ltd. (NASDAQ:FLEX) were up 4.8% during mid-day trading on Friday. The stock traded as high as $117.67 and last traded at $117.7560. Approximately 225,072 shares were traded during trading, a decline of 95% from the average session volume of 4,803,476 shares. The stock had previously closed at $112.40.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FLEX shares. The Goldman Sachs Group reduced their price target on Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $142.00 price target on shares of Flex in a report on Thursday, July 30th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Raymond James Financial set a $170.00 price objective on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Barclays lowered their target price on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.20.

Flex Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The firm has a market capitalization of $43.38 billion, a price-to-earnings ratio of 45.42, a PEG ratio of 0.58 and a beta of 1.67. The business’s fifty day simple moving average is $115.10 and its 200 day simple moving average is $113.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. The firm had revenue of $7.93 billion for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. On average, research analysts forecast that Flex Ltd. will post 4.27 EPS for the current year.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Flex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC bought a new stake in Flex during the first quarter worth $65,000. Root Financial Partners LLC grew its holdings in Flex by 31.9% during the first quarter. Root Financial Partners LLC now owns 1,174 shares of the technology company’s stock valued at $77,000 after purchasing an additional 284 shares during the period. Clearstead Advisors LLC grew its stake in shares of Flex by 146.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,289 shares of the technology company’s stock worth $78,000 after acquiring an additional 767 shares during the period. Security National Bank of SO Dak bought a new stake in Flex in the 2nd quarter valued at about $89,000. Finally, Global Assets Advisory LLC purchased a new stake in Flex during the first quarter valued at about $100,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

About Flex

Flex Ltd. (NASDAQ:FLEX) is a global manufacturing and supply-chain solutions company that helps original equipment manufacturers design, build and manage products. Its services span product design and engineering, prototyping, manufacturing, assembly, testing, logistics, supply-chain management and aftermarket support.

The company supports customers across industries including automotive, communications, consumer, industrial, healthcare and life sciences, and cloud and data-center infrastructure.