Flex (NASDAQ:FLEX) Reaches New 1-Year High – Here’s Why

Flex Ltd. (NASDAQ:FLEX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $144.71 and last traded at $143.7580, with a volume of 537086 shares. The stock had previously closed at $142.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLEX. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday. Barclays increased their price target on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research note on Thursday. KeyCorp increased their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Flex Price Performance

The firm has a market cap of $51.81 billion, a PE ratio of 60.16 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average price of $74.45 and a two-hundred day moving average price of $67.03.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the company posted $0.73 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, equities analysts expect that Flex Ltd. will post 3.31 earnings per share for the current year.

Insider Activity

In related news, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the transaction, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. This trade represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles K. Stevens III sold 15,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $138.14, for a total value of $2,072,100.00. Following the completion of the transaction, the director owned 45,426 shares of the company’s stock, valued at $6,275,147.64. The trade was a 24.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.57% of the company’s stock.

Institutional Trading of Flex

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. State Street Corp raised its holdings 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 period. Geode Capital Management LLC raised its holdings in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Flex by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,631,237 shares of the technology company’s stock valued at $326,443,000 after buying an additional 355,061 shares during the period. Finally, Norges Bank purchased a new stake in Flex during the 4th quarter worth approximately $319,756,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

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.