Flex (NASDAQ:FLEX) PT Raised to $34.00 at Barclays

Flex (NASDAQ:FLEX) had its price target hoisted by investment analysts at Barclays from $30.00 to $34.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 21.86% from the company’s current price.

Several other research firms have also weighed in on FLEX. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and cut their target price for the stock from $28.00 to $27.00 in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, StockNews.com initiated coverage on Flex in a research report on Wednesday, March 6th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Flex Trading Up 1.8 %

Flex stock traded up $0.48 during trading hours on Thursday, reaching $27.90. 7,558,170 shares of the company’s stock traded hands, compared to its average volume of 4,047,069. Flex has a fifty-two week low of $19.85 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.71 and a beta of 1.18. The firm’s 50 day moving average is $28.46 and its 200-day moving average is $26.84.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Flex had a return on equity of 15.88% and a net margin of 3.58%. On average, analysts predict that Flex will post 2.14 earnings per share for the current year.

Insider Activity

In related news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total value of $231,257.87. Following the completion of the sale, the insider now owns 159,718 shares of the company’s stock, valued at approximately $4,601,475.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock worth $4,055,311 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FLEX. Stratos Wealth Advisors LLC lifted its stake in Flex by 3.1% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company’s stock valued at $403,000 after purchasing an additional 452 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Flex by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after buying an additional 497 shares during the last quarter. Wahed Invest LLC boosted its stake in shares of Flex by 8.1% during the 3rd quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock worth $191,000 after acquiring an additional 530 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Flex by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 589 shares during the last quarter. Finally, Veracity Capital LLC lifted its holdings in Flex by 7.8% during the 4th quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after purchasing an additional 599 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.