Flex (NASDAQ:FLEX) Upgraded at Craig Hallum

Craig Hallum upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research note released on Thursday, MarketBeat reports. Craig Hallum currently has $39.00 price objective on the technology company’s stock, up from their previous price objective of $27.00.

Other equities analysts also recently issued research reports about the company. StockNews.com raised Flex from a hold rating to a buy rating in a research report on Wednesday, June 26th. Barclays raised their target price on shares of Flex from $30.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Flex from $34.00 to $40.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Flex currently has a consensus rating of Moderate Buy and an average price target of $38.40.

Flex Trading Up 3.5 %

FLEX stock opened at $32.01 on Thursday. The firm has a fifty day moving average price of $31.14 and a 200 day moving average price of $28.63. Flex has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm has a market cap of $12.77 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.52.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Flex had a net margin of 3.54% and a return on equity of 15.53%. Sell-side analysts anticipate that Flex will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In related news, CFO Paul Lundstrom sold 200,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $6,492,000.00. Following the transaction, the chief financial officer now owns 294,027 shares of the company’s stock, valued at $9,544,116.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Flex news, CFO Paul Lundstrom sold 200,000 shares of Flex stock in a transaction on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $6,492,000.00. Following the completion of the sale, the chief financial officer now directly owns 294,027 shares of the company’s stock, valued at approximately $9,544,116.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the transaction, the insider now directly owns 151,691 shares in the company, valued at approximately $4,443,029.39. The disclosure for this sale can be found here. Insiders sold a total of 804,542 shares of company stock valued at $25,147,972 in the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Flex

Several large investors have recently modified their holdings of the business. Boston Partners boosted its stake in shares of Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares in the last quarter. LSV Asset Management boosted its position in Flex by 0.7% during the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after acquiring an additional 51,068 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after acquiring an additional 141,580 shares during the period. Norges Bank bought a new position in shares of Flex in the 4th quarter worth $165,000,000. Finally, Sound Shore Management Inc. CT lifted its stake in shares of Flex by 3.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock worth $117,942,000 after purchasing an additional 128,766 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.