Flex (NASDAQ:FLEX) Hits New 52-Week High Following Analyst Upgrade

Key Points

• Flex Ltd. (NASDAQ:FLEX) reached a new 52-week high after Bank of America raised its price target from $58.00 to $65.00, maintaining a buy rating on the stock.
• Several brokerages, including Goldman Sachs and Wall Street Zen, have expressed bullish sentiments on Flex, indicating a general consensus of a "Moderate Buy" with an average target price of $58.29 among analysts.
• Insider selling activity has been noted, with significant shares sold by top executives, resulting in a decrease of their ownership in the company, while institutional investors currently hold 94.30% of the stock.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) hit a new 52-week high during trading on Wednesday after Bank of America raised their price target on the stock from $58.00 to $65.00. Bank of America currently has a buy rating on the stock. Flex traded as high as $59.80 and last traded at $59.91, with a volume of 2186167 shares traded. The stock had previously closed at $57.25.

A number of other brokerages also recently weighed in on FLEX. The Goldman Sachs Group set a $66.00 target price on Flex in a research note on Monday, September 29th. Wall Street Zen upgraded shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. Weiss Ratings reissued a "buy (b-)" rating on shares of Flex in a research report on Saturday, September 27th. Stifel Nicolaus increased their target price on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Flex has a consensus rating of "Moderate Buy" and an average target price of $58.29.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the completion of the sale, the chief accounting officer directly owned 37,619 shares of the company's stock, valued at approximately $2,131,492.54. This represents a 21.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 45,000 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the sale, the insider directly owned 256,198 shares of the company's stock, valued at approximately $14,639,153.72. The trade was a 14.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flex

Hedge funds have recently modified their holdings of the company. MTM Investment Management LLC purchased a new stake in Flex in the 2nd quarter worth $26,000. Concord Wealth Partners purchased a new position in Flex in the 2nd quarter worth approximately $28,000. CNB Bank bought a new position in Flex in the 2nd quarter worth approximately $30,000. Harbour Investments Inc. increased its stake in Flex by 74.7% in the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company's stock worth $35,000 after acquiring an additional 301 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Flex by 404.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company's stock worth $35,000 after buying an additional 566 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 4.8%

The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a market cap of $22.51 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.95 and a beta of 1.15. The company has a 50-day moving average price of $54.16 and a two-hundred day moving average price of $45.81.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.09. The business had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. On average, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.

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