Flex (NASDAQ:FLEX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on FLEX. Argus set a $85.00 price objective on Flex in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research report on Wednesday, October 8th. Wall Street Zen raised Flex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Bank of America lifted their price target on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $71.86.

Flex Stock Up 5.6%

Shares of NASDAQ FLEX opened at $65.26 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $24.13 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.64 and a beta of 1.24. Flex has a 12-month low of $25.11 and a 12-month high of $67.00. The stock’s fifty day simple moving average is $59.11 and its two-hundred day simple moving average is $50.43.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Flex had a return on equity of 20.86% and a net margin of 3.33%.The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. As a group, analysts expect that Flex will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In related news, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the transaction, the chief operating officer owned 251,136 shares in the company, valued at $16,293,703.68. The trade was a 4.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the transaction, the director owned 17,012 shares of the company’s stock, valued at approximately $875,607.64. This represents a 37.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,020 shares of company stock worth $7,004,342 over the last quarter. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently modified their holdings of FLEX. Norges Bank acquired a new stake in Flex in the 2nd quarter worth about $291,362,000. State Street Corp boosted its holdings in Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Invesco Ltd. boosted its holdings in Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock worth $276,652,000 after buying an additional 2,968,285 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Flex by 3,794.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company’s stock worth $95,936,000 after buying an additional 2,825,667 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Flex by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after buying an additional 2,459,511 shares during the last quarter. Hedge funds and other 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.