Flex Ltd. (NASDAQ:FLEX) Receives Average Recommendation of "Moderate Buy" from Analysts

Flex Ltd. (NASDAQ:FLEX) has received a 'Moderate Buy' consensus from analysts, with price targets ranging from $65.75 to $75.00. Insider trading includes significant stock sales by CAO Daniel Wendler and Director William D. Watkins. Institutional investors like Wellington Management and Vanguard Group have increased their holdings. The stock opened at $58.40, with a market cap of $21.60 billion and a P/E ratio of 25.84.

Shares of Flex Ltd. (NASDAQ:FLEX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.75.

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FLEX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, October 30th. The Goldman Sachs Group increased their price target on shares of Flex from $66.00 to $73.00 and gave the company a "buy" rating in a report on Thursday, October 30th. Weiss Ratings restated a "buy (b)" rating on shares of Flex in a report on Tuesday. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 9th. Finally, KeyCorp boosted their price target on Flex from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, October 30th.

Read Our Latest Stock Analysis on FLEX

Insider Buying and Selling at Flex

This mid-cap tech stock just jumped 30%...and is still cheap

In related news, CAO Daniel Wendler sold 10,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at approximately $2,131,492.54. This represents a 21.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William D. Watkins sold 20,000 shares of the business's stock in a transaction on 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 completion of the sale, the director directly owned 98,073 shares in the company, valued at $5,346,939.96. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 152,500 shares of company stock valued at $9,011,950 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flex

Several large investors have recently modified their holdings of FLEX. Wellington Management Group LLP lifted its position in shares of Flex by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after buying an additional 996,276 shares during the period. Boston Partners lifted its holdings in shares of Flex by 3.5% during the second quarter. Boston Partners now owns 20,620,717 shares of the technology company's stock valued at $1,029,769,000 after acquiring an additional 687,835 shares during the period. Vanguard Group Inc. boosted its stake in shares of Flex by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,083,744 shares of the technology company's stock valued at $758,465,000 after purchasing an additional 221,819 shares in the last quarter. State Street Corp grew its holdings in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Flex by 6.1% during the 2nd quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company's stock worth $442,870,000 after purchasing an additional 508,495 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

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FLEX opened at $58.40 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average price is $60.20 and its two-hundred day moving average price is $53.00. The firm has a market capitalization of $21.60 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Flex has a 12-month low of $25.11 and a 12-month high of $67.00.

About Flex

(Get Free Report)

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.

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