Flex Ltd. [NASDAQ: FLEX] price surged by 2.63 percent to reach at $0.4. The company report on July 27, 2022 that FLEX REPORTS FIRST QUARTER FISCAL 2023 RESULTS.
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Flex (NASDAQ: FLEX) today announced results for its first quarter ended July 1, 2022.
A sum of 5177362 shares traded at recent session while its average daily volume was at 3.69M shares. Flex Ltd. shares reached a high of $15.735 and dropped to a low of $15.185 until finishing in the latest session at $15.60.
The one-year FLEX stock forecast points to a potential upside of 31.67.
Guru’s Opinion on Flex Ltd. [FLEX]:
Argus have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2022. The new note on the price target was released on May 06, 2021, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise from $21 to $22, while JP Morgan kept a Overweight rating on FLEX stock.
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 0.28. The Price to Book ratio for the last quarter was 1.74, with the Price to Cash per share for the same quarter was set at 6.31. Price to Free Cash Flow for FLEX in the course of the last twelve months was 12.62 with Quick ratio for the last quarter at 0.70.
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 1.63. With this latest performance, FLEX shares gained by 0.32% in over the last four-week period, additionally sinking by -2.19% over the last 6 months – not to mention a drop of -5.34% 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 56.92, with the RSI for the last a single of trading hit 63.53, and the three-weeks RSI is set at 52.97 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 15.54, while it was recorded at 15.38 for the last single week of trading, and 16.88 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 +3.91 and a Gross Margin at +7.33. Flex Ltd.’s Net Margin is presently recorded at +3.59.
Return on Equity for this stock inclined to 24.75, with Return on Assets sitting at 5.32.
Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.
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 17.95%.
Flex Ltd. [FLEX] Insider Position Details
There are presently around $6,792 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 54,612,570, which is approximately -0.74% of the company’s market cap and around 0.60% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 39,472,671 shares of the stock with an approximate value of $615.77 million in FLEX stocks shares; and FMR LLC, currently with $368.02 million in FLEX stock with ownership of nearly -49.873% of the company’s market capitalization.
Positions in Flex Ltd. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 181 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 41,689,074 shares. Additionally, 147 investors decreased positions by around 57,914,779 shares, while 66 investors held positions by with 335,791,017 shares. The mentioned changes placed institutional holdings at 435,394,870 shares, according to the latest SEC report filing. FLEX stock had 49 new institutional investments in for a total of 15,575,047 shares, while 40 institutional investors sold positions of 11,288,244 shares during the same period.