Flex Ltd. (NASDAQ:FLEX) Receives $34.20 Consensus Target Price from Analysts

Shares of Flex Ltd. (NASDAQ:FLEX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.83.

Several brokerages have commented on FLEX. The Goldman Sachs Group boosted their price target on shares of Flex from $29.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Craig Hallum cut shares of Flex from a "buy" rating to a "hold" rating and cut their price target for the stock from $28.00 to $27.00 in a research report on Thursday. StockNews.com began coverage on shares of Flex in a research report on Wednesday, March 6th. They set a "hold" rating on the stock. Barclays boosted their price target on shares of Flex from $30.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Flex from $32.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th.

Insider Transactions at Flex

In other news, insider Rebecca Sidelinger sold 13,675 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the transaction, the insider now directly owns 161,913 shares in the company, valued at approximately $4,531,944.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Daniel Wendler sold 1,860 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the transaction, the chief accounting officer now owns 28,730 shares in the company, valued at approximately $830,009.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rebecca Sidelinger sold 13,675 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the transaction, the insider now owns 161,913 shares in the company, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. Insiders have sold 141,943 shares of company stock worth $4,055,311 in the last ninety days. Insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLEX. Cornerstone Planning Group LLC acquired a new position in Flex in the 3rd quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in shares of Flex during the 4th quarter worth approximately $34,000. CWM LLC grew its position in shares of Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company's stock worth $49,000 after purchasing an additional 773 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company's stock worth $60,000 after purchasing an additional 1,455 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Flex during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Trading Up 4.1 %

FLEX traded up $1.08 during mid-day trading on Thursday, hitting $27.42. The stock had a trading volume of 10,494,853 shares, compared to its average volume of 4,980,498. The stock's fifty day simple moving average is $28.47 and its 200-day simple moving average is $26.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. Flex has a 1-year low of $19.85 and a 1-year high of $30.93.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, topping 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 business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. As a group, research analysts forecast that Flex will post 2.16 EPS for the current fiscal year.

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.