Stifel Nicolaus Initiates Coverage on Flex (NASDAQ:FLEX)

Stock analysts at Stifel Nicolaus assumed coverage on shares of Flex (NASDAQ:FLEX) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $52.00 price target on the technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 20.87% from the stock’s current price.

A number of other equities analysts have also issued reports on FLEX. KeyCorp began coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. Craig Hallum upped their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $44.33.

Flex Trading Down 0.3 %

Shares of FLEX stock opened at $43.02 on Tuesday. The firm has a market capitalization of $16.48 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41. Flex has a 1 year low of $25.27 and a 1 year high of $45.10. The stock has a fifty day moving average of $40.27 and a two-hundred day moving average of $35.93.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts expect that Flex will post 2.33 EPS for the current year.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter valued at about $29,000. Huntington National Bank increased its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. R Squared Ltd purchased a new stake in Flex in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex during the 4th quarter valued at $38,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

About Flex

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.