Flex (NASDAQ:FLEX) Price Target Increased to $39.00 by Analysts at Barclays

Flex (NASDAQ:FLEX) had its target price hoisted by Barclays from $34.00 to $39.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently commented on FLEX. StockNews.com raised Flex from a hold rating to a buy rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their target price on Flex from $34.00 to $40.00 and gave the stock an overweight rating in a report on Tuesday, July 23rd. Finally, Craig Hallum upgraded Flex from a hold rating to a buy rating and raised their price target for the company from $27.00 to $39.00 in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $38.40.

Flex Trading Up 3.5 %

NASDAQ FLEX opened at $32.01 on Thursday. The firm has a market capitalization of $12.77 billion, a PE ratio of 13.92, a P/E/G ratio of 2.14 and a beta of 1.12. The stock’s 50 day moving average is $31.14 and its 200 day moving average is $28.67. Flex has a twelve month low of $21.84 and a twelve month high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Flex had a net margin of 3.54% and a return on equity of 15.53%. Research analysts forecast that Flex will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83. Following the transaction, the insider now directly owns 151,691 shares of the company’s stock, valued at $4,443,029.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Flex news, CFO Paul Lundstrom sold 35,733 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the completion of the sale, the chief financial officer now directly owns 507,752 shares in the company, valued at approximately $14,547,094.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the completion of the transaction, the insider now owns 151,691 shares in the company, valued at $4,443,029.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 804,542 shares of company stock worth $25,147,972. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. increased its position in shares of Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Flex by 5.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after buying an additional 471 shares during the last quarter. Veracity Capital LLC raised its position in Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after acquiring an additional 599 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Flex by 8.4% during the 4th quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock worth $266,000 after acquiring an additional 679 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Flex by 8.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock valued at $247,000 after acquiring an additional 683 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.