Flex (NASDAQ:FLEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Several other research analysts have also recently issued reports on FLEX. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $42.67.

Flex Price Performance

Shares of NASDAQ FLEX opened at $42.72 on Thursday. The stock has a market cap of $16.57 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.56 and a beta of 1.10. The firm’s 50-day simple moving average is $39.19 and its 200 day simple moving average is $34.59. Flex has a fifty-two week low of $22.02 and a fifty-two week high of $44.45. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

Insider Buying and Selling

In other news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex during the third quarter worth approximately $29,000. Huntington National Bank boosted its position in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in Flex in the third quarter valued at about $39,000. Quarry LP acquired a new position in Flex in the 2nd quarter worth about $43,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

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.