Shares of Flex Ltd (NASDAQ:FLEX) gapped down before the market opened on Friday . The stock had previously closed at $9.55, but opened at $9.28. Flex shares last traded at $8.94, with a volume of 8882521 shares traded.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised Flex from a “neutral” rating to an “overweight” rating and set a $12.00 target price on the stock in a research report on Wednesday. BidaskClub raised Flex from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, ValuEngine lowered Flex from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.33.
The company has a debt-to-equity ratio of 0.81, a current ratio of 1.20 and a quick ratio of 0.71. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 0.58 and a beta of 1.80.
Institutional investors have recently made changes to their positions in the stock. Front Row Advisors LLC increased its holdings in Flex by 646.9% in the first quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock valued at $25,000 after buying an additional 2,206 shares during the last quarter. Willingdon Wealth Management bought a new stake in Flex in the first quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Flex by 119.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock valued at $29,000 after buying an additional 2,084 shares during the last quarter. New Jersey Better Educational Savings Trust bought a new stake in Flex in the first quarter valued at about $100,000. Finally, Cornerstone Advisory LLC bought a new stake in Flex in the first quarter valued at about $103,000. 93.16% of the stock is owned by hedge funds and other institutional investors.
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About Flex (NASDAQ:FLEX)
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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