Flex Ltd (NASDAQ:FLEX)‘s stock had its “buy” rating reiterated by analysts at Bank of America Corp in a research note issued on Wednesday, May 17th. They currently have a $19.50 price target on the technology company’s stock, up from their prior price target of $17.50. Bank of America Corp’s target price indicates a potential upside of 11.81% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Zacks Investment Research cut shares of Flex from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Deutsche Bank AG reiterated a “hold” rating and set a $16.00 price target (up previously from $15.00) on shares of Flex in a research report on Saturday, April 29th. Royal Bank of Canada restated a “buy” rating and set a $22.00 price objective on shares of Flex in a report on Tuesday, March 28th. Finally, Citigroup Inc set a $18.00 price objective on shares of Flex and gave the stock a “buy” rating in a research report on Monday, March 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.21.
Shares of Flex (NASDAQ FLEX) opened at 17.44 on Wednesday. Flex has a 52-week low of $11.51 and a 52-week high of $17.76. The firm has a market cap of $9.24 billion, a PE ratio of 29.56 and a beta of 0.75. The stock’s 50 day moving average price is $16.24 and its 200-day moving average price is $15.71.
In other Flex news, CFO Christopher Collier sold 17,875 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $16.75, for a total transaction of $299,406.25. Following the completion of the transaction, the chief financial officer now owns 700,531 shares in the company, valued at approximately $11,733,894.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael M. Mcnamara sold 58,838 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $16.81, for a total transaction of $989,066.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,124 shares of company stock valued at $4,077,509. 0.94% of the stock is owned by company insiders. Several hedge funds have recently made changes to their positions in FLEX. Toronto Dominion Bank increased its stake in shares of Flex by 26.1% in the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock valued at $100,000 after buying an additional 1,234 shares during the period. Keybank National Association OH bought a new position in shares of Flex during the first quarter valued at $199,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Flex by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after buying an additional 516 shares during the period. FNY Partners Fund LP bought a new position in shares of Flex during the first quarter valued at $214,000. Finally, Ronald Blue & Co. LLC boosted its position in shares of Flex by 8.8% in the first quarter. Ronald Blue & Co. LLC now owns 13,062 shares of the technology company’s stock valued at $219,000 after buying an additional 1,059 shares during the period. 92.18% of the stock is owned by institutional investors.
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