Deutsche Bank AG reaffirmed their hold rating on shares of Flex Ltd (NASDAQ:FLEX) in a research report report published on Saturday, April 29th. They currently have a $16.00 target price on the technology company’s stock, up from their previous target price of $15.00.

FLEX has been the topic of several other reports. Royal Bank of Canada increased their price objective on shares of Flex from $17.00 to $22.00 and gave the company an outperform rating in a research report on Tuesday, February 21st. Zacks Investment Research cut shares of Flex from a buy rating to a hold rating in a research note on Wednesday, March 29th. Needham & Company LLC increased their price objective on shares of Flex from $16.00 to $17.00 and gave the stock a buy rating in a research note on Friday, January 27th. Citigroup Inc set a $18.00 price objective on shares of Flex and gave the stock a buy rating in a research note on Monday, March 20th. Finally, Stifel Nicolaus raised their target price on shares of Flex from $16.00 to $17.00 and gave the stock a buy rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $17.21.

Shares of Flex (NASDAQ:FLEX) traded up 2.950% during trading on Friday, hitting $16.575. 2,133,172 shares of the stock traded hands. Flex has a 1-year low of $11.51 and a 1-year high of $16.99. The firm has a 50-day moving average of $16.02 and a 200-day moving average of $15.42. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 28.093 and a beta of 0.75.

Flex (NASDAQ:FLEX) last released its earnings results on Thursday, April 27th. The technology company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.68 billion. Flex had a net margin of 1.24% and a return on equity of 21.30%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. On average, equities analysts forecast that Flex will post $1.22 earnings per share for the current year.

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In other Flex news, insider Francois Barbier sold 52,911 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $16.42, for a total value of $868,798.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $15.11, for a total value of $453,300.00. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Daiwa SB Investments Ltd. boosted its stake in shares of Flex by 2.0% in the first quarter. Daiwa SB Investments Ltd. now owns 51,380 shares of the technology company’s stock valued at $863,000 after buying an additional 990 shares during the last quarter. Private Capital Advisors Inc. purchased a new stake in shares of Flex during the first quarter valued at approximately $2,216,000. Gulf International Bank UK Ltd boosted its stake in shares of Flex by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 180,426 shares of the technology company’s stock valued at $3,031,000 after buying an additional 2,900 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Flex by 4.2% in the first quarter. Fulton Bank N.A. now owns 13,165 shares of the technology company’s stock valued at $221,000 after buying an additional 528 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Flex by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 191,600 shares of the technology company’s stock valued at $2,753,000 after buying an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.

Flex Company Profile

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).

5 Day Chart for NASDAQ:FLEX

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