Analysts Set Flex Ltd. (NASDAQ:FLEX) Target Price at $65.75

by · The Cerbat Gem

Shares of Flex Ltd. (NASDAQ:FLEX – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $65.75.

FLEX has been the topic of a number of analyst reports. Bank of America increased their target price on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Barclays increased their price target on Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. KeyCorp upped their target price on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group raised their price target on Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th.

View Our Latest Analysis on Flex

Insider Buying and Selling

In other Flex news, Director Michael E. Hurlston sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the director directly owned 58,561 shares in the company, valued at $3,396,538. The trade was a 14.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kwang Hooi Tan sold 12,500 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the sale, the chief operating officer directly owned 251,136 shares in the company, valued at approximately $16,293,703.68. This represents a 4.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 152,500 shares of company stock worth $9,011,950. 0.57% of the stock is owned by company insiders.

Institutional Trading of Flex

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in Flex during the fourth quarter worth about $260,000. CWM LLC grew its holdings in shares of Flex by 73.3% during the 1st quarter. CWM LLC now owns 1,281 shares of the technology company’s stock valued at $42,000 after purchasing an additional 542 shares during the last quarter. AE Wealth Management LLC acquired a new position in Flex during the 1st quarter worth approximately $233,000. Assetmark Inc. lifted its stake in Flex by 15.0% in the 1st quarter. Assetmark Inc. now owns 20,935 shares of the technology company’s stock valued at $693,000 after purchasing an additional 2,738 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Flex by 23.5% during the first quarter. HB Wealth Management LLC now owns 7,065 shares of the technology company’s stock worth $234,000 after buying an additional 1,343 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 1.2%

Shares of Flex stock opened at $59.12 on Friday. Flex has a 52-week low of $25.11 and a 52-week high of $67.00. The stock has a market cap of $21.86 billion, a PE ratio of 26.16, a PEG ratio of 1.57 and a beta of 1.24. The firm has a 50-day moving average of $60.21 and a 200-day moving average of $53.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

About Flex

(Get Free Report)

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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