Flex (NASDAQ:FLEX) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Flex (NASDAQ:FLEX) from a buy rating to a strong-buy rating in a research note published on Saturday.

Several other research analysts have also recently weighed in on FLEX. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a report on Wednesday, October 8th. Bank of America upped their target price on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. KeyCorp lifted their price target on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Argus set a $85.00 target price on shares of Flex in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.86.

Flex Stock Down 2.3%

FLEX stock opened at $62.52 on Friday. The stock has a 50-day simple moving average of $58.50 and a two-hundred day simple moving average of $49.75. Flex has a twelve month low of $25.11 and a twelve month high of $67.00. The firm has a market capitalization of $23.47 billion, a PE ratio of 27.66, a PEG ratio of 2.03 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.70 billion. Flex had a net margin of 3.33% and a return on equity of 20.86%. Flex’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, equities analysts predict that Flex will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.47, for a total transaction of $514,700.00. Following the transaction, the director directly owned 17,012 shares in the company, valued at $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the transaction, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. This trade represents a 8.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,020 shares of company stock valued at $6,070,442 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jump Financial LLC bought a new position in shares of Flex in the first quarter worth approximately $2,882,000. DAVENPORT & Co LLC boosted its position in Flex by 20.9% during the 1st quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company’s stock valued at $229,000 after buying an additional 1,200 shares during the period. Benjamin Edwards Inc. bought a new stake in Flex in the 1st quarter worth $258,000. American Century Companies Inc. increased its position in shares of Flex by 42.2% in the first quarter. American Century Companies Inc. now owns 986,492 shares of the technology company’s stock valued at $32,633,000 after acquiring an additional 292,646 shares during the period. Finally, Foundations Investment Advisors LLC raised its stake in shares of Flex by 209.0% during the first quarter. Foundations Investment Advisors LLC now owns 18,734 shares of the technology company’s stock valued at $620,000 after acquiring an additional 12,672 shares during 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.