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

Flex (NASDAQ:FLEX) had its target price increased by analysts at Craig Hallum from $39.00 to $45.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price points to a potential upside of 28.28% from the stock’s previous close.

FLEX has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Barclays upped their target price on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. KeyCorp started coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $40.17.

Flex Stock Performance

Shares of FLEX opened at $35.08 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Flex has a 12 month low of $21.84 and a 12 month high of $36.98. The company’s fifty day moving average is $32.69 and its 200-day moving average is $31.11. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09.

Insider Activity

In other Flex news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares in the company, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’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 sale, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,028 shares of company stock valued at $933,511. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the 3rd quarter worth about $29,000. Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the third quarter valued at approximately $39,000. Quarry LP acquired a new stake in Flex during the second quarter valued at approximately $43,000. American Capital Advisory LLC acquired a new stake in Flex during the second quarter valued at approximately $46,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Flex in the 3rd quarter valued at approximately $74,000. 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.