Flex (NASDAQ:FLEX) Given New $43.00 Price Target at Barclays

Flex (NASDAQ:FLEX) had its target price raised by Barclays from $39.00 to $43.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research firms have also recently weighed in on FLEX. Stifel Nicolaus raised their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Craig Hallum upped their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $40.83.

Flex Price Performance

Shares of NASDAQ FLEX traded up $0.95 during midday trading on Thursday, hitting $35.62. 901,298 shares of the company’s stock were exchanged, compared to its average volume of 4,149,630. The business’s fifty day moving average price is $32.76 and its two-hundred day moving average price is $31.13. Flex has a 12-month low of $21.84 and a 12-month high of $36.98. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.11 and a beta of 1.09. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

Insider Activity at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now owns 158,094 shares in the company, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $933,511 over the last three months. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Flex

Large investors have recently bought and sold shares of the business. CWA Asset Management Group LLC purchased a new stake in Flex during the third quarter worth about $533,000. Cozad Asset Management Inc. grew its holdings in shares of Flex by 14.2% during the third quarter. Cozad Asset Management Inc. now owns 347,178 shares of the technology company’s stock worth $11,606,000 after buying an additional 43,099 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in Flex during the third quarter valued at approximately $74,000. Robeco Institutional Asset Management B.V. increased its holdings in Flex by 113.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after purchasing an additional 257,975 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Flex during the third quarter worth $29,000. Institutional investors and hedge funds 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.