Barclays Boosts Flex (NASDAQ:FLEX) Price Target to $39.00

Flex (NASDAQ:FLEX) had its price objective lifted by Barclays from $34.00 to $39.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on Flex from $34.00 to $40.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Flex from a hold rating to a buy rating in a research note on Wednesday, June 26th. Finally, Craig Hallum upgraded shares of Flex from a hold rating to a buy rating and lifted their target price for the company from $27.00 to $39.00 in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Flex currently has a consensus rating of Moderate Buy and a consensus target price of $38.40.

Flex Stock Performance

NASDAQ FLEX opened at $32.01 on Thursday. The company’s fifty day moving average is $31.14 and its two-hundred day moving average is $28.63. Flex has a 52-week low of $21.84 and a 52-week high of $34.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 2.14 and a beta of 1.12.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Flex had a return on equity of 15.53% and a net margin of 3.54%. Equities research analysts forecast that Flex will post 2.06 EPS for the current year.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 37,170 shares of Flex stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the completion of the transaction, the chief executive officer now directly owns 2,057,473 shares of the company’s stock, valued at approximately $64,398,904.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, CEO Revathi Advaithi sold 37,170 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the sale, the chief executive officer now directly owns 2,057,473 shares of the company’s stock, valued at $64,398,904.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the transaction, the chief accounting officer now directly owns 32,510 shares in the company, valued at $1,017,563. The disclosure for this sale can be found here. In the last quarter, insiders have sold 804,542 shares of company stock valued at $25,147,972. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Atomi Financial Group Inc. grew its holdings in Flex by 10.2% during the 2nd quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock worth $235,000 after acquiring an additional 739 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Flex by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 599,946 shares of the technology company’s stock valued at $17,692,000 after purchasing an additional 81,335 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. Veracity Capital LLC lifted its holdings in Flex by 16.5% during the 2nd quarter. Veracity Capital LLC now owns 13,124 shares of the technology company’s stock worth $387,000 after buying an additional 1,860 shares in the last quarter. Finally, Graybill Wealth Management LTD. lifted its holdings in Flex by 1.0% during the 2nd quarter. Graybill Wealth Management LTD. now owns 197,366 shares of the technology company’s stock worth $5,820,000 after buying an additional 2,030 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

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.