Flex (NASDAQ:FLEX) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Flex (NASDAQ:FLEX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Several other research firms have also issued reports on FLEX. JPMorgan Chase & Co. increased their price objective on Flex from $44.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. KGI Securities lowered Flex from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Barclays raised their target price on Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. The Goldman Sachs Group set a $66.00 target price on Flex in a research note on Monday, September 29th. Finally, Bank of America raised their target price on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.71.

Flex Stock Performance

Flex stock opened at $58.83 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. The stock has a fifty day moving average price of $54.83 and a two-hundred day moving average price of $46.53. Flex has a 52-week low of $25.11 and a 52-week high of $60.05. The firm has a market capitalization of $22.08 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.84 and a beta of 1.15.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.09. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. As a group, analysts anticipate that Flex will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the transaction, the chief accounting officer owned 37,619 shares in the company, valued at approximately $2,131,492.54. This represents a 21.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,020 shares of company stock valued at $4,923,667 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Flex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLEX. Norges Bank bought a new position in Flex during the second quarter worth about $291,362,000. State Street Corp boosted its holdings in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Invesco Ltd. boosted its holdings in Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock worth $276,652,000 after buying an additional 2,968,285 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Flex by 3,794.6% during the first quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company’s stock worth $95,936,000 after buying an additional 2,825,667 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after buying an additional 2,459,511 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

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.