Flex Ltd. (NASDAQ:FLEX) Receives Consensus Rating of “Moderate Buy” from Analysts

Flex Ltd. (NASDAQ:FLEX) has earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $115.70.

FLEX has been the subject of a number of recent analyst reports. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday. Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th.

Flex Price Performance

Shares of Flex stock opened at $119.25 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex has a 12 month low of $47.83 and a 12 month high of $166.86. The stock has a 50 day moving average of $143.16 and a 200 day moving average of $95.78. The firm has a market cap of $43.69 billion, a PE ratio of 51.18, a PEG ratio of 0.63 and a beta of 1.64.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion for the quarter. On average, research analysts expect that Flex will post 4.18 EPS for the current fiscal year.

Insider Activity at Flex

In other Flex news, CEO Revathi Advaithi sold 197,879 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the sale, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at $89,978,613.12. The trade was a 24.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, COO Kwang Hooi Tan sold 26,657 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the transaction, the chief operating officer directly owned 257,527 shares in the company, valued at approximately $37,207,500.96. This trade represents a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 769,195 shares of company stock worth $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in shares of Flex in the 4th quarter valued at $260,000. Goldman Sachs Group Inc. grew its stake in shares of Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after purchasing an additional 211,046 shares during the period. Empowered Funds LLC purchased a new position in Flex in the first quarter valued at $397,000. EverSource Wealth Advisors LLC boosted its stake in shares of Flex by 63.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Flex by 92.4% during the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 29,821 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.