Flex Ltd. [NASDAQ: FLEX] slipped around -0.52 points on Monday, while shares priced at $14.10 at the close of the session, down -3.59%. The company report on October 13, 2020 that LeddarTech Announces a Collaborative Agreement with Flex for the Development of an Automotive Front LiDAR Solution.
LeddarTech®, a leader in Level 1-5 ADAS and AD sensing technology, is pleased to announce a collaborative project agreement with Flex (NASDAQ: FLEX) for the development of a LiDAR evaluation kit and related service offering for design, development, and manufacturing of automotive LiDAR sensors. Flex is a leading global manufacturing, supply chain, and technology company. The collaborative partnership between LeddarTech and Flex combines LeddarTech’s sensing technology and Flex Automotive Solutions’ expertise and design services to deliver optimized automotive LiDAR sensors to customers.
LeddarTech welcomes Flex as a member of its Leddar™ Ecosystem team of technology and industry leaders. The collaboration combines the flexibility and scalability of LeddarTech’s sensing platform and ecosystem with Flex LiDAR sensor design and manufacturing expertise tailored to customer and application requirements. LeddarTech’s platform also includes sensor fusion and perception software, which further supports this collaboration by enabling customers to achieve optimal ADAS & AD system performance and costs along with cameras, RADARs, and LiDAR sensors supplied by Flex.
Flex Ltd. stock is now 11.69% up from its year-to-date (YTD) trading value. FLEX Stock saw the intraday high of $14.52 and lowest of $13.88 per share. The company’s 52-week high price is 15.61, which means current price is +162.97% above from all time high which was touched on 10/20/20.
Compared to the average trading volume of 3.90M shares, FLEX reached a trading volume of 6829962 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Flex Ltd. [FLEX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLEX shares is $14.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLEX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 16, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on April 22, 2020, representing the official price target for Flex Ltd. stock.
The Average True Range (ATR) for Flex Ltd. is set at 0.62, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.29. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 4.01.
How has FLEX stock performed recently?
Flex Ltd. [FLEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.39. With this latest performance, FLEX shares gained by 33.86% in over the last four-week period, additionally plugging by 54.72% over the last 6 months – not to mention a rise of 21.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FLEX stock in for the last two-week period is set at 66.98, with the RSI for the last a single of trading hit 65.74, and the three-weeks RSI is set at 65.97 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 11.52, while it was recorded at 14.30 for the last single week of trading, and 10.75 for the last 200 days.
Flex Ltd. [FLEX]: Deeper insight into the fundamentals
Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.
Earnings analysis for Flex Ltd. [FLEX]
With the latest financial reports released by the company, Flex Ltd. posted 0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FLEX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Flex Ltd. go to 12.43%.
Insider trade positions for Flex Ltd. [FLEX]
There are presently around $6,881 million, or 99.50% of FLEX stock, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 72,436,363, which is approximately -3.51% of the company’s market cap and around 0.90% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 51,257,996 shares of the stock with an approximate value of $722.48 million in FLEX stocks shares; and FMR LLC, currently with $701.61 million in FLEX stock with ownership of nearly -1.231% of the company’s market capitalization.
122 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 61,780,840 shares. Additionally, 169 investors decreased positions by around 60,267,516 shares, while 48 investors held positions by with 366,144,855 shares. The mentioned changes placed institutional holdings at 488,193,211 shares, according to the latest SEC report filing. FLEX stock had 50 new institutional investments in for a total of 10,420,648 shares, while 58 institutional investors sold positions of 17,119,825 shares during the same period.