Flex Ltd. (NASDAQ:FLEX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Flex Ltd. (NASDAQ:FLEX) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $114.20.

FLEX has been the subject of several recent research reports. Weiss Ratings downgraded Flex from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 17th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Barclays lowered their price target on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group cut their price target on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: An analysis highlights strong growth in Flex’s Communications and Industrial (CPI) business, the earnings contribution from EPC Power, and the company’s planned spin-off as catalysts that could support further upside. The thesis suggests improving business performance and portfolio simplification may lead investors to assign a higher valuation to FLEX. Flex: Strong CPI Growth, EPC Power, And The Spin-Off Support Further Upside
• Neutral Sentiment: The other supplied articles primarily concern fantasy-football “flex” rankings, Motorola’s rumored Razr Flex smartphone, UNO Flex downloadable content, Amazon Flex app troubleshooting, and flexible HVAC ductwork. They do not provide material information about Flex Ltd.’s operations, earnings, customers, or outlook and are therefore unlikely to affect FLEX.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 2,755 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total transaction of $332,363.20. Following the transaction, the insider owned 243,175 shares in the company, valued at $29,336,632. The trade was a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flex

A number of large investors have recently made changes to their positions in FLEX. Geode Capital Management LLC lifted its stake in Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after acquiring an additional 181,266 shares during the period. Norges Bank bought a new position in Flex in the 4th quarter worth $319,756,000. Polar Capital Holdings Plc lifted its position in shares of Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the period. Sei Investments Co. boosted its stake in shares of Flex by 52.2% during the 1st quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock valued at $146,016,000 after purchasing an additional 764,558 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Flex by 541.5% during the first quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after buying an additional 1,659,384 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

Shares of Flex stock opened at $112.78 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. Flex has a 52-week low of $53.07 and a 52-week high of $166.86. The company has a fifty day moving average of $113.96 and a 200-day moving average of $115.51. The stock has a market capitalization of $41.66 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67.

Flex (NASDAQ:FLEX) last issued its earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The company had revenue of $7.93 billion for the quarter. Equities research analysts expect that Flex will post 4.27 EPS for the current year.

Flex Company Profile

Flex Ltd. (NASDAQ:FLEX) is a global manufacturing and supply-chain solutions provider that helps companies design, build and deliver products. The company works with original equipment manufacturers and other brands across the product life cycle, from product design and engineering through manufacturing, logistics and aftermarket services.

Its capabilities include electronics manufacturing, printed circuit board assembly, systems integration, mechanical manufacturing, testing, product development and supply-chain management.