Flex (NASDAQ:FLEX) Reaches New 1-Year High - Here's Why

Key Points

• Flex shares hit a new 52-week high, trading as high as $144.71 and closing near $143.76, reflecting a strong recent run in the stock.
• Analysts have turned more optimistic on Flex, with several firms raising price targets; Goldman Sachs lifted its target to $177, and the consensus rating is now a “Moderate Buy.”
• Recent earnings beat expectations, as Flex reported $0.93 EPS on $7.48 billion in revenue, topping estimates and marking 17.2% year-over-year revenue growth.

Flex Ltd. (NASDAQ:FLEX - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $144.71 and last traded at $143.7580, with a volume of 537086 shares traded. The stock had previously closed at $142.17.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Raymond James Financial set a $80.00 target price on Flex and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. raised their target price on Flex from $75.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the stock a "buy" rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Flex currently has an average rating of "Moderate Buy" and a consensus target price of $112.80.

Flex Stock Performance

The company has a market capitalization of $51.81 billion, a PE ratio of 60.16 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $74.45 and a two-hundred day moving average price of $67.03.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion during the quarter, compared to analysts' expectations of $6.96 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. Analysts predict that Flex Ltd. will post 3.31 EPS for the current fiscal year.

Insider Activity

In other Flex news, Director Charles K. Stevens III sold 15,000 shares of Flex stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the sale, the director owned 45,426 shares of the company's stock, valued at $6,275,147.64. The trade was a 24.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kwang Hooi Tan sold 17,500 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the sale, the chief operating officer directly owned 233,636 shares of the company's stock, valued at approximately $13,754,151.32. This trade represents a 6.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLEX. JSF Financial LLC lifted its holdings in shares of Flex by 0.6% during the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company's stock valued at $1,342,000 after buying an additional 115 shares during the period. Glenview Trust Co lifted its holdings in shares of Flex by 3.4% during the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company's stock valued at $247,000 after buying an additional 125 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of Flex by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company's stock valued at $522,000 after buying an additional 163 shares during the period. Parkside Financial Bank & Trust raised its holdings in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock worth $28,000 after purchasing an additional 166 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company's stock worth $159,000 after purchasing an additional 178 shares during the period. 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.

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