By otakuyassine3@gmail.com 
StockNews.com lowered shares of Flex (NASDAQ:FLEX – Free Report) from a buy rating to a hold rating in a report issued on Saturday.
A number of other equities analysts also recently commented on FLEX. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Stifel Nicolaus increased their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Flex presently has a consensus rating of “Buy” and an average target price of $43.67.
Read Our Latest Stock Analysis on FLEX
Flex Price Performance
Shares of NASDAQ FLEX opened at $40.50 on Friday. The firm has a 50-day simple moving average of $39.96 and a 200-day simple moving average of $35.48. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. Flex has a 52 week low of $24.05 and a 52 week high of $45.10.
Flex (NASDAQ:FLEX – Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. On average, equities analysts predict that Flex will post 2.33 earnings per share for the current fiscal year.
Insider Activity at Flex
In related news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after purchasing an additional 344,773 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after buying an additional 31,214 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after buying an additional 296,505 shares during the last quarter. Geode Capital Management LLC raised its stake in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares in the last quarter. Finally, State Street Corp lifted its position in Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after acquiring an additional 603,208 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.
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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