Flex (NASDAQ:FLEX) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Flex (NASDAQ:FLEX) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

A number of other equities research analysts have also issued reports on FLEX. Raymond James Financial set a $80.00 price target on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $66.78.

Flex Trading Up 2.6%

Shares of FLEX stock opened at $64.24 on Friday. The business has a 50-day moving average of $64.21 and a 200 day moving average of $59.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88. Flex has a 1-year low of $25.11 and a 1-year high of $72.22. The stock has a market capitalization of $23.62 billion, a PE ratio of 28.81, a P/E/G ratio of 1.57 and a beta of 1.24.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. Flex had a return on equity of 20.99% and a net margin of 3.17%.The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, sell-side analysts anticipate that Flex will post 2.33 earnings per share for the current year.

Insider Transactions at Flex

In other Flex news, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the director owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Krumm sold 21,406 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total transaction of $1,310,689.38. Following the completion of the sale, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,406 shares of company stock valued at $4,262,489 in the last three months. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Flex

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after buying an additional 25,662,586 shares in the last quarter. Boston Partners increased 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 in the last quarter. State Street Corp raised its position in shares of Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the last quarter. Invesco Ltd. boosted its stake in Flex by 6.1% in 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. Finally, Geode Capital Management LLC grew its position in Flex by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after purchasing an additional 181,266 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.