Brokerages Set Flex Ltd. (NASDAQ:FLEX) Price Target at $65.88

by · The Cerbat Gem

Shares of Flex Ltd. (NASDAQ:FLEX – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $65.8750.

Several equities analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday, November 12th. JPMorgan Chase & Co. increased their price target on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th.

View Our Latest Research Report on FLEX

Flex Trading Up 0.1%

Shares of FLEX opened at $63.78 on Tuesday. The stock has a market cap of $23.58 billion, a PE ratio of 28.22, a PEG ratio of 1.69 and a beta of 1.26. The stock has a 50 day simple moving average of $62.39 and a 200-day simple moving average of $56.05. Flex has a 1 year low of $25.11 and a 1 year high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60.

Insider Buying and Selling at Flex

In other Flex news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the transaction, the director directly owned 98,073 shares in the company, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $64.26, for a total transaction of $963,900.00. Following the completion of the transaction, the insider directly owned 241,198 shares in the company, valued at $15,499,383.48. This trade represents a 5.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 107,500 shares of company stock valued at $6,593,750 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Flex

Large investors have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in shares of Flex in the first quarter valued at about $2,882,000. Voya Investment Management LLC raised its stake in Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after purchasing an additional 690,611 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after purchasing an additional 453,455 shares during the period. Maverick Capital Ltd. grew its position in shares of Flex by 108.9% during the 1st quarter. Maverick Capital Ltd. now owns 18,683 shares of the technology company’s stock worth $618,000 after purchasing an additional 9,740 shares in the last quarter. Finally, Amundi raised its position in shares of Flex by 8.1% in the first quarter. Amundi now owns 643,315 shares of the technology company’s stock valued at $21,281,000 after buying an additional 48,322 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

About Flex

(Get Free Report)

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.

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