Key Points
- Flex director Michael Hurlston sold 10,000 shares on Nov. 26 at an average price of $58 for a $580,000 transaction, leaving him with 58,561 shares (a 14.59% reduction) valued at roughly $3.40 million.
- Analyst sentiment is generally positive: JPMorgan raised its target to $75 (overweight) and Goldman to $73 (buy), while MarketBeat's consensus is a Moderate Buy with a consensus target of $65.75.
- Recent stock metrics: Flex opened at $58.40, with a 50-day/200-day SMA of $60.19/$52.96, a market cap of about $21.6 billion, a P/E of 25.84, and a 52-week range of $25.11–$67.00.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Michael Hurlston sold 10,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the director directly owned 58,561 shares in the company, valued at approximately $3,396,538. The trade was a 14.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Flex Stock Performance
NASDAQ FLEX opened at $58.40 on Thursday. The company's 50 day simple moving average is $60.19 and its two-hundred day simple moving average is $52.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $67.00. The stock has a market capitalization of $21.60 billion, a PE ratio of 25.84, a P/E/G ratio of 1.52 and a beta of 1.24.
Analysts Set New Price Targets
Several analysts have weighed in on FLEX shares. JPMorgan Chase & Co. raised their price target on Flex from $60.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, October 30th. Jefferies Financial Group reissued a "hold" rating and issued a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. The Goldman Sachs Group raised their price objective on shares of Flex from $66.00 to $73.00 and gave the company a "buy" rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Flex in a research report on Tuesday. Finally, Bank of America raised their price target on Flex from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.75.
Get Our Latest Report on FLEX
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. CENTRAL TRUST Co boosted its holdings in 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 during the period. MTM Investment Management LLC bought a new stake in Flex in the second quarter valued at approximately $26,000. Concord Wealth Partners purchased a new stake in shares of Flex during the second quarter valued at approximately $28,000. CNB Bank purchased a new position in shares of Flex in the second quarter worth $30,000. Finally, Harbour Investments Inc. raised its holdings in Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company's stock valued at $35,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.
About Flex
(
Get Free Report)
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.
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