Flex (NASDAQ:FLEX) Sets New 12-Month High - Still a Buy?

Key Points

• Flex Ltd. (NASDAQ:FLEX) reached a new 12-month high at $60.31, with significant trading volume of over 1 million shares.
• Analysts have a consensus rating of "Moderate Buy" for Flex, with target prices ranging from $59.71 to $70.00, indicating strong optimism about the stock's performance.
• Insider trading activity showed that executives sold a total of 90,020 shares in the last three months, raising questions about potential future stock performance.

Shares of Flex Ltd. (NASDAQ:FLEX - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $60.21 and last traded at $60.31, with a volume of 1004761 shares trading hands. The stock had previously closed at $58.83.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America upped their price objective on Flex from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. KeyCorp upped their price objective on Flex from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday. KGI Securities lowered shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. The Goldman Sachs Group set a $66.00 target price on shares of Flex in a research note on Monday, September 29th. Finally, Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.71.

Flex Price Performance

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 capitalization of $22.36 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.84 and a beta of 1.15. The firm has a 50 day moving average price of $54.83 and a 200 day moving average price of $46.53.

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

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 45,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $57.14, for a total value of $2,571,300.00. Following the completion of the sale, the insider owned 256,198 shares in the company, valued at approximately $14,639,153.72. This represents a 14.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the sale, the director owned 111,355 shares of the company's stock, valued at $5,767,075.45. The trade was a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,020 shares of company stock worth $4,923,667 in the last three months. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BayBridge Capital Group LLC boosted its stake in Flex by 2.1% during the second quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company's stock valued at $569,000 after buying an additional 235 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in Flex by 39.4% during the second quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company's stock valued at $43,000 after buying an additional 244 shares during the last quarter. Archer Investment Corp grew its position in Flex by 8.9% in the second quarter. Archer Investment Corp now owns 3,050 shares of the technology company's stock worth $152,000 after acquiring an additional 250 shares in the last quarter. Benjamin Edwards Inc. grew its position in Flex by 3.3% in the second quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company's stock worth $403,000 after acquiring an additional 257 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Flex by 1.8% in the second quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company's stock worth $759,000 after acquiring an additional 266 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

About Flex

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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