Generally how do recruiters, hiring managers etc view a person who has gone BACK to a previous job - after being at another company for a few years?

I am a hiring manager as well and, all other factors considered equal, I view going back to a previous company as positive - a sign that the candidate has no problem demonstrating value, reliability, and that they left on good terms and were in fact ‘missed’ for their skill set & attitude (or whatever). I’m curious though what other recruiters / hiring managers think of this? If for some reason that’s a red flag or otherwise looks bad on a candidate’s resume?

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