Flex (NASDAQ:FLEX) Price Target Increased to $34.00 by Analysts at Barclays

Flex (NASDAQ:FLEX - Free Report) had its target price hoisted by Barclays from $30.00 to $34.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.

Several other equities analysts also recently commented on FLEX. The Goldman Sachs Group increased their price target on Flex from $29.00 to $37.00 and gave the company a buy rating in a report on Monday, March 4th. StockNews.com initiated coverage on shares of Flex in a research report on Wednesday, March 6th. They set a hold rating on the stock. JPMorgan Chase & Co. increased their target price on Flex from $32.00 to $34.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Finally, Craig Hallum cut shares of Flex from a buy rating to a hold rating and cut their price target for the company from $28.00 to $27.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $32.83.

Flex Stock Performance

Shares of NASDAQ:FLEX traded up $1.08 on Thursday, reaching $27.42. 10,494,854 shares of the company's stock were exchanged, compared to its average volume of 4,980,494. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.79 and a beta of 1.18. Flex has a fifty-two week low of $19.85 and a fifty-two week high of $30.93. The business's 50-day moving average is $28.48 and its two-hundred day moving average is $26.82. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. As a group, equities research analysts forecast that Flex will post 2.16 EPS for the current year.

Insider Activity

In other news, EVP David Scott Offer sold 75,000 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares of the company's stock, valued at approximately $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rebecca Sidelinger sold 13,675 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the transaction, the insider now owns 161,913 shares of the company's stock, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock worth $4,055,311 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of Flex by 58.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 33,370 shares of the technology company's stock valued at $900,000 after buying an additional 12,248 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Flex by 145.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 58,739 shares of the technology company's stock worth $1,585,000 after buying an additional 34,810 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of Flex by 3.1% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company's stock worth $403,000 after purchasing an additional 452 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Flex by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 463,264 shares of the technology company's stock worth $12,499,000 after purchasing an additional 14,205 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Flex by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,613 shares of the technology company's stock valued at $2,256,000 after acquiring an additional 8,688 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

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.