Cross Research slashes price target on Flex Ltd. [FLEX] – find out why.

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Flex Ltd. [NASDAQ: FLEX] price surged by 2.44 percent to reach at $0.42. The company report on April 18, 2022 that Flex Announces Date for Fourth Quarter Fiscal 2022 Earnings Call.

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Flex (NASDAQ: FLEX) will announce its fourth quarter and fiscal 2022 financial results after the market closes on Wednesday, May 4, 2022. The company will hold a conference call to discuss the results on the same day at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

The dial-in number for the conference call is 877-201-0168 and the conference ID is 9363531. The live webcast presentation will be available on the Flex Investor Relations (IR) website located at investors.flex.com. The webcast replay, along with supporting materials, will be available on the IR website following the conclusion of the event.

A sum of 3557223 shares traded at recent session while its average daily volume was at 4.86M shares. Flex Ltd. shares reached a high of $17.75 and dropped to a low of $17.28 until finishing in the latest session at $17.62.

The one-year FLEX stock forecast points to a potential upside of 26.58.

Guru’s Opinion on Flex Ltd. [FLEX]:

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 0.53, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 5.55. Price to Free Cash Flow for FLEX in the course of the last twelve months was 20.33 with Quick ratio for the last quarter at 0.80.

FLEX Stock Performance Analysis:

Flex Ltd. [FLEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.83. With this latest performance, FLEX shares gained by 2.26% in over the last four-week period, additionally sinking by -7.56% over the last 6 months – not to mention a drop of -3.13% 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 56.46, with the RSI for the last a single of trading hit 59.56, and the three-weeks RSI is set at 54.73 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 16.92, while it was recorded at 17.18 for the last single week of trading, and 17.57 for the last 200 days.

Insight into Flex Ltd. 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 0.80 and a Current Ratio set at 1.40.

FLEX Stock EPS

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 17.45%.

Flex Ltd. [FLEX] Insider Position Details

There are presently around $7,735 million, or 99.80% 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 55,019,450, which is approximately -4.115% of the company’s market cap and around 0.40% of the total institutional ownership; FMR LLC, holding 47,062,269 shares of the stock with an approximate value of $809.47 million in FLEX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $708.36 million in FLEX stock with ownership of nearly -1.023% of the company’s market capitalization.

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 189 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 43,919,063 shares. Additionally, 152 investors decreased positions by around 48,801,680 shares, while 59 investors held positions by with 356,979,205 shares. The mentioned changes placed institutional holdings at 449,699,948 shares, according to the latest SEC report filing. FLEX stock had 77 new institutional investments in for a total of 9,172,660 shares, while 50 institutional investors sold positions of 11,946,145 shares during the same period.