Flex (NASDAQ:FLEX) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird began coverage on shares of Flex (NASDAQ:FLEX) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $70.00 price target on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 10.43% from the stock’s current price.

Several other brokerages also recently issued reports on FLEX. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Raymond James Financial set a $80.00 price target on Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.10.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $63.39 on Thursday. The business’s 50 day simple moving average is $63.67 and its 200-day simple moving average is $61.38. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. Flex has a 12 month low of $25.11 and a 12 month high of $72.22. 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 (NASDAQ:FLEX) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.84 billion. Flex had a return on equity of 20.99% and a net margin of 3.17%.Flex’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. 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, equities analysts forecast that Flex will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Flex

In other news, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $58.87, for a total transaction of $1,030,225.00. Following the completion of the sale, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. This represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the transaction, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This trade represents a 12.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Flex

A number of large investors have recently modified their holdings of the company. MTM Investment Management LLC purchased a new stake in shares of Flex during the 2nd quarter worth about $26,000. USA Financial Formulas purchased a new stake in Flex during the fourth quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Flex in the fourth quarter worth $28,000. Parkside Financial Bank & Trust raised its stake in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in shares of Flex by 238.3% during the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after acquiring an additional 355 shares in 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.