ValuEngine upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a report released on Tuesday, January 30th.
Other analysts also recently issued reports about the stock. Needham & Company LLC upped their target price on shares of Flex from $19.00 to $21.00 and gave the stock a buy rating in a research report on Friday, January 26th. Bank of America upped their target price on shares of Flex from $20.00 to $22.00 and gave the stock a buy rating in a research report on Friday, January 26th. BidaskClub downgraded shares of Flex from a buy rating to a hold rating in a research report on Saturday, December 2nd. Argus upped their target price on shares of Flex from $20.00 to $23.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. Finally, UBS Group upped their target price on shares of Flex from $18.00 to $19.75 and gave the stock a buy rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $20.56.
Shares of Flex (FLEX) traded up $0.16 during trading on Tuesday, reaching $17.08. 2,941,899 shares of the company’s stock were exchanged, compared to its average volume of 4,426,884. The company has a current ratio of 1.22, a quick ratio of 0.72 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8,930.00, a P/E ratio of 17.02, a P/E/G ratio of 0.94 and a beta of 0.80. Flex has a fifty-two week low of $14.70 and a fifty-two week high of $19.71.
Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.50 billion. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. sell-side analysts expect that Flex will post 1.08 EPS for the current fiscal year.
In related news, EVP David Scott Offer sold 45,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Willy C. Shih sold 13,597 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total transaction of $243,522.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,597 shares of company stock worth $1,200,042. 0.83% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Korea Investment CORP lifted its stake in Flex by 145.7% during the 3rd quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock valued at $4,263,000 after acquiring an additional 152,600 shares during the period. James Investment Research Inc. bought a new position in Flex during the 4th quarter valued at about $1,959,000. First Quadrant L P CA bought a new position in Flex during the 3rd quarter valued at about $579,000. Investment House LLC lifted its stake in Flex by 14.1% during the 3rd quarter. Investment House LLC now owns 269,400 shares of the technology company’s stock valued at $4,464,000 after acquiring an additional 33,375 shares during the period. Finally, PGGM Investments lifted its stake in Flex by 0.3% during the 3rd quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock valued at $36,197,000 after acquiring an additional 7,337 shares during the period. Institutional investors own 94.38% of the company’s stock.
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Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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