Flex Ltd. (FLEX) - What Are Analysts Saying About This Stock?

Key Points

• Analysts remain broadly bullish: Flex has a consensus “Buy” rating among 11 brokerages, with an average 12-month price target of $138.88. Recent target changes were mixed, including KeyCorp’s cut from $180 to $128 while retaining an “overweight” rating.
• Quarterly results beat expectations: Flex reported adjusted earnings of $1.18 per share versus the $1.06 consensus and revenue of $8.49 billion versus estimates of $8.17 billion. Revenue rose 24.8% year over year.
• Insider Michael P. Hartung sold 2,755 shares to cover tax withholding on vested equity awards; institutional investors and hedge funds own 94.3% of the company’s stock.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) has been assigned a consensus rating of "Buy" from the eleven brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $138.88.

Several brokerages have recently issued reports on FLEX. Zacks Research upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 2nd. KeyCorp dropped their target price on shares of Flex from $180.00 to $128.00 and set an "overweight" rating on the stock in a research report on Thursday. Raymond James Financial set a $170.00 target price on shares of Flex and gave the company an "outperform" rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of Flex from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares in the company, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Flex

Large investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in shares of Flex during the 3rd quarter worth approximately $25,000. Reyes Financial Architecture Inc. bought a new stake in shares of Flex during the third quarter valued at approximately $28,000. Rosenberg Matthew Hamilton acquired a new position in shares of Flex in the third quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Flex in the third quarter valued at $40,000. Finally, Meramec Financial Planners LLC bought a new position in Flex in the third quarter worth $57,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Key Headlines Impacting Flex

Here are a few of the latest headlines about FLEX:

• Positive Sentiment: Recent coverage describes Wall Street as optimistic on Flex, citing its past-year performance and prospects. Another stock-pick article includes FLEX among companies offering exposure to AI infrastructure and potential upside. Is Wall Street Bullish or Bearish on Flex Ltd. Stock? Buy 3 Top-Ranked Undervalued AI Infrastructure Giants to Boost Gains
• Negative Sentiment: KeyCorp cut its Flex price target to $128 from $180, a substantial reduction that could pressure the shares. It maintained an “overweight” rating, however, and the revised target still implies considerable upside from the price cited in the coverage. Flex Given New $128 Price Target at KeyCorp

Flex Stock Performance

NASDAQ:FLEX opened at $74.98 on Friday. The firm has a market capitalization of $27.70 billion, a PE ratio of 27.07, a PEG ratio of 0.36 and a beta of 1.80. Flex has a 1 year low of $53.07 and a 1 year high of $166.86. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90. The firm's fifty day simple moving average is $99.26 and its 200 day simple moving average is $103.47.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.12. Flex had a net margin of 3.35% and a return on equity of 24.93%. The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.17 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The business's revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Flex will post 4.52 EPS for the current year.

About Flex

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support. The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.

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