Flex (NASDAQ:FLEX) Stock Price Expected to Rise, Craig Hallum Analyst Says

Flex (NASDAQ:FLEX) had its price objective raised by Craig Hallum from $39.00 to $45.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays lifted their price target on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. 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. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Finally, KeyCorp assumed coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Six equities 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.83.

Flex Stock Up 2.7 %

Shares of FLEX traded up $0.95 during trading hours on Thursday, hitting $35.62. The company had a trading volume of 901,298 shares, compared to its average volume of 4,149,630. The firm has a fifty day moving average price of $32.76 and a 200-day moving average price of $31.13. Flex has a 52-week low of $21.84 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 2.11 and a beta of 1.09.

Insiders Place Their Bets

In other Flex 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction that occurred on 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 approximately $5,377,327.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,028 shares of company stock worth $933,511. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Flex in the third quarter valued at $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in Flex during the 3rd quarter worth $39,000. Quarry LP purchased a new position in shares of Flex during the 2nd quarter valued at approximately $43,000. American Capital Advisory LLC bought a new stake in shares of Flex during the 2nd quarter valued at about $46,000. Finally, Silicon Valley Capital Partners bought a new stake in Flex during the 3rd quarter valued at $74,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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.