Analysts Set Flex Ltd. (NASDAQ:FLEX) PT at $115.70

Flex Ltd. (NASDAQ:FLEX) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $115.70.

FLEX has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Robert W. Baird set a $165.00 price objective on shares of Flex in a research note on Thursday, May 7th. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Barclays increased their target price on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th.

Flex Stock Up 2.1%

FLEX stock opened at $132.24 on Friday. The firm’s 50-day moving average is $143.97 and its two-hundred day moving average is $94.75. The company has a market capitalization of $48.45 billion, a price-to-earnings ratio of 56.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.64. Flex has a 52 week low of $47.83 and a 52 week high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, analysts forecast that Flex will post 4.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael P. Hartung sold 22,627 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the transaction, the insider directly owned 253,199 shares of the company’s stock, valued at approximately $36,582,191.52. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the sale, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at approximately $89,978,613.12. This represents a 24.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 769,195 shares of company stock valued at $110,116,823 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Flex

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. Norges Bank acquired a new position in Flex in the 4th quarter worth about $319,756,000. State Street Corp increased its position in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Flex by 694,916.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock worth $159,573,000 after purchasing an additional 2,640,682 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after buying an additional 2,165,780 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Company Profile

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.