Flex Ltd. [FLEX] Stock trading around $18.53 per share: What’s Next?

Flex Ltd. [NASDAQ: FLEX] traded at a high on 06/10/21, posting a 1.70 gain after which it closed the day’ session at $18.53. The company report on May 24, 2021 that Flex Wins National Export Award in Mexico.

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Flex (NASDAQ: FLEX) announced its manufacturing operations in Mexico have been awarded the 2020 National Export Award in the Manufacturing and Export Services category by the Economic Ministry of Mexico. Flex was recognized for its strong manufacturing processes driven by its industry knowledge, dedicated employees, automation and digitization.

Flex has invested in a focused portfolio of advanced manufacturing capabilities and technologies to lead the evolution of Industry 4.0 and provide greater efficiency, quality and sustainability for customers. The company is developing and implementing innovative manufacturing techniques and processes and offers its customers an array of services regionally and globally to ensure a seamless/optimized transition from design to manufacturing.

The results of the trading session contributed to over 2328769 shares changing hands. Over the past one week, the price volatility of Flex Ltd. stands at 1.88% while the volatility over the past one month is 2.57%.

The market cap for FLEX stock reached $8.93 billion, with 496.00 million shares outstanding and 487.30 million shares in the current float. Compared to the average trading volume of 4.22M shares, FLEX reached a trading volume of 2328769 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 $23.43 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 1.80. 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.

Cross Research have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 06, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $21 to $22. The new note on the price target was released on February 26, 2021, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise to $17, while JP Morgan analysts kept a Neutral rating on FLEX stock. On October 16, 2020, analysts increased their price target for FLEX shares from 12 to 16.

The Average True Range (ATR) for Flex Ltd. is set at 0.50, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 5.47.

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 -0.43. With this latest performance, FLEX shares gained by 1.62% in over the last four-week period, additionally plugging by 11.56% over the last 6 months – not to mention a rise of 67.39% 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 54.49, with the RSI for the last a single of trading hit 54.95, and the three-weeks RSI is set at 53.57 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 18.13, while it was recorded at 18.63 for the last single week of trading, and 16.32 for the last 200 days.

Flex Ltd. [FLEX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Flex Ltd. [FLEX] shares currently have an operating margin of +3.71 and a Gross Margin at +7.10. Flex Ltd.’s Net Margin is presently recorded at +2.54.

Return on Total Capital for FLEX is now 12.60, given the latest momentum, and Return on Invested Capital for the company is 9.04. Return on Equity for this stock inclined to 19.56, with Return on Assets sitting at 4.15. When it comes to the capital structure of this company, Flex Ltd. [FLEX] has a Total Debt to Total Equity ratio set at 130.17. Additionally, FLEX Total Debt to Total Capital is recorded at 56.55, with Total Debt to Total Assets ending up at 28.24. Long-Term Debt to Equity for the company is recorded at 118.66, with the Long-Term Debt to Total Capital now at 51.55.

Reflecting on the efficiency of the workforce at the company, Flex Ltd. [FLEX] managed to generate an average of $3,666 per employee. Receivables Turnover for the company is 6.65 with a Total Asset Turnover recorded at a value of 1.63.Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.

Earnings analysis for Flex Ltd. [FLEX]

With the latest financial reports released by the company, Flex Ltd. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.30%. 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 15.70%.

Insider trade positions for Flex Ltd. [FLEX]

There are presently around $8,811 million, or 99.30% 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 60,358,352, which is approximately -7.165% of the company’s market cap and around 0.50% of the total institutional ownership; FMR LLC, holding 49,917,158 shares of the stock with an approximate value of $924.97 million in FLEX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $659.88 million in FLEX stock with ownership of nearly -32.439% of the company’s market capitalization.

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Positions in Flex Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 179 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 40,140,608 shares. Additionally, 151 investors decreased positions by around 55,597,559 shares, while 50 investors held positions by with 379,768,777 shares. The mentioned changes placed institutional holdings at 475,506,944 shares, according to the latest SEC report filing. FLEX stock had 62 new institutional investments in for a total of 8,798,291 shares, while 45 institutional investors sold positions of 8,543,144 shares during the same period.

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