Flex (NASDAQ:FLEX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a report issued on Tuesday.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays raised their price target on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Finally, KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $40.83.

Flex Stock Down 3.1 %

Shares of FLEX opened at $34.67 on Tuesday. The firm has a 50 day simple moving average of $32.69 and a two-hundred day simple moving average of $31.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. Flex has a one year low of $21.84 and a one year high of $36.98. The company has a market cap of $13.77 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.11 and a beta of 1.09.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the transaction, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,028 shares of company stock worth $933,511. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of Flex

Several large investors have recently modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new position in shares of Flex during the third quarter valued at about $29,000. Kathleen S. Wright Associates Inc. bought a new position in Flex in the third quarter worth approximately $39,000. Quarry LP acquired a new stake in Flex in the second quarter valued at approximately $43,000. American Capital Advisory LLC bought a new stake in shares of Flex during the second quarter valued at approximately $46,000. Finally, Silicon Valley Capital Partners acquired a new position in shares of Flex during the third quarter worth approximately $74,000. Institutional investors and hedge funds 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.