Flex Ltd. (NASDAQ:FLEX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Flex a “Moderate Buy” consensus: Of 12 analysts, eight recommend buying, three rate it a hold, and one issues a strong buy. The average 12-month price target is $114.20.
• Flex shares opened at $112.40, with a market capitalization of approximately $41.52 billion and a 52-week trading range of $53.07 to $166.86.
• Institutional investors own 94.3% of Flex, while recent insider activity included an executive sale of 2,755 shares to cover tax obligations related to vested equity awards.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are presently covering the stock, Marketbeat.com 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 target price among brokerages that have updated their coverage on the stock in the last year is $114.20.

Several research analysts have weighed in on the company. Wall Street Zen downgraded Flex from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Zacks Research downgraded shares of Flex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Robert W. Baird set a $142.00 target price on shares of Flex in a research report on Thursday, July 30th. 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. Finally, Freedom Capital upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th.

Insider Activity

In other news, insider Michael P. Hartung sold 2,755 shares of Flex stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the sale, the insider directly owned 243,175 shares of the company's stock, valued at approximately $29,336,632. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Flex

Institutional investors have recently added to or reduced their stakes in the company. Security National Bank of SO Dak bought a new position in shares of Flex during the 2nd quarter valued at approximately $89,000. Parkside Financial Bank & Trust increased its position in Flex by 32.0% in the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the technology company's stock worth $130,000 after purchasing an additional 195 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Flex in the second quarter worth $160,000. Western Wealth Management LLC purchased a new stake in Flex during the first quarter valued at $65,000. Finally, Versant Capital Management Inc lifted its position in Flex by 130.6% during the second quarter. Versant Capital Management Inc now owns 1,123 shares of the technology company's stock valued at $182,000 after purchasing an additional 636 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Price Performance

NASDAQ:FLEX opened at $112.40 on Friday. The business's 50-day simple moving average is $115.10 and its two-hundred day simple moving average is $113.73. Flex has a 52 week low of $53.07 and a 52 week high of $166.86. The stock has a market cap of $41.52 billion, a PE ratio of 43.40, a P/E/G ratio of 0.58 and a beta of 1.67. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The firm had revenue of $7.93 billion during the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. As a group, analysts forecast that Flex will post 4.27 EPS for the current fiscal year.

Flex Company Profile

Flex Ltd. NASDAQ: FLEX is a global manufacturing and supply-chain solutions company that helps original equipment manufacturers design, build and manage products. Its services span product design and engineering, prototyping, manufacturing, assembly, testing, logistics, supply-chain management and aftermarket support.

The company supports customers across industries including automotive, communications, consumer, industrial, healthcare and life sciences, and cloud and data-center infrastructure.

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