Fintel reports that on September 7, 2023, Barclays initiated coverage of Flex (NASDAQ:FLEX) with a Overweight recommendation.
Analyst Price Forecast Suggests 27.26% Upside
As of August 31, 2023, the average one-year price target for Flex is 33.66. The forecasts range from a low of 31.31 to a high of $37.80. The average price target represents an increase of 27.26% from its latest reported closing price of 26.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Flex is 31,214MM, an increase of 2.90%. The projected annual non-GAAP EPS is 2.47.
What is the Fund Sentiment?
There are 780 funds or institutions reporting positions in Flex. This is an increase of 11 owner(s) or 1.43% in the last quarter. Average portfolio weight of all funds dedicated to FLEX is 0.61%, an increase of 13.40%. Total shares owned by institutions decreased in the last three months by 0.46% to 559,721K shares. 
The put/call ratio of FLEX is 0.41, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 47,140K shares representing 10.55% ownership of the company. In it's prior filing, the firm reported owning 49,378K shares, representing a decrease of 4.75%. The firm increased its portfolio allocation in FLEX by 9.89% over the last quarter.
Wellington Management Group Llp holds 27,061K shares representing 6.06% ownership of the company. In it's prior filing, the firm reported owning 27,232K shares, representing a decrease of 0.63%. The firm increased its portfolio allocation in FLEX by 13.91% over the last quarter.
Janus Henderson Group holds 25,906K shares representing 5.80% ownership of the company. In it's prior filing, the firm reported owning 26,838K shares, representing a decrease of 3.60%. The firm increased its portfolio allocation in FLEX by 7.98% over the last quarter.
JAENX - Janus Henderson Enterprise Fund Class T holds 17,234K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 18,002K shares, representing a decrease of 4.46%. The firm increased its portfolio allocation in FLEX by 10.31% over the last quarter.
Victory Capital Management holds 17,123K shares representing 3.83% ownership of the company. In it's prior filing, the firm reported owning 16,677K shares, representing an increase of 2.61%. The firm increased its portfolio allocation in FLEX by 20.24% over the last quarter.
Flex Background Information
(This description is provided by the company.)
Flex is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
Additional reading:
- DESCRIPTION OF ANNUAL INCENTIVE BONUS PLAN FOR FISCAL YEAR 2024
- Summary of Compensation Arrangements of Certain Executive Officers of Flex Ltd.
- FLEX LTD. 2017 EQUITY INCENTIVE PLAN FORM OF RESTRICTED SHARE UNIT AWARD AGREEMENT
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