For Flex Ltd. [FLEX], Analyst sees a rise to $24. What next?

Flex Ltd. [NASDAQ: FLEX] plunged by -$0.01 during the normal trading session on Wednesday and reaching a high of $18.315 during the day while it closed the day at $18.16. The company report on August 1, 2022 that Flex receives 4th consecutive Lenovo EMEA Logistics Supplier of the Year Award.

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For the fourth year in a row, Flex (NASDAQ: FLEX) has been named as Lenovo EMEA Logistics Supplier of the Year. The award is recognition of Flex’s ability to create a seamless experience for companies and their customers that is resilient and adaptable to rapidly changing global end market demands.  The award was presented at the Lenovo EMEA Global Logistics Suppliers Conference attended by Lenovo’s connected partner network.

Flex’s value added fulfilment services, which include vendor managed inventory, warehousing, fulfilment and last mile distribution, helped Lenovo deliver increased volumes across their PC & Smart Devices, Mobile, Server and Cloud business in what was a dynamic and highly challenging supply chain environment.

Flex Ltd. stock has also loss -2.26% of its value over the past 7 days. However, FLEX stock has inclined by 16.19% in the 3 months of the year. Over the past six months meanwhile, it has gained 11.00% and lost -0.93% year-on date.

The market cap for FLEX stock reached $8.68 billion, with 458.00 million shares outstanding and 453.40 million shares in the current float. Compared to the average trading volume of 4.06M shares, FLEX reached a trading volume of 5186553 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Flex Ltd. [FLEX]:

Credit Suisse have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 17, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise to $22, while Cross Research analysts kept a Buy rating on FLEX stock. On February 26, 2021, analysts increased their price target for FLEX shares from 21 to 22.

The Average True Range (ATR) for Flex Ltd. is set at 0.60, 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 2.03, with the Price to Cash per share for the same quarter was set at 5.54. Price to Free Cash Flow for FLEX in the course of the last twelve months was 29.31 with Quick ratio for the last quarter at 0.70.

FLEX stock trade performance evaluation

Flex Ltd. [FLEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.26. With this latest performance, FLEX shares gained by 19.47% in over the last four-week period, additionally plugging by 11.00% over the last 6 months – not to mention a rise of 0.55% 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 58.51, with the RSI for the last a single of trading hit 54.57, and the three-weeks RSI is set at 58.89 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 16.03, while it was recorded at 18.50 for the last single week of trading, and 16.82 for the last 200 days.

Flex Ltd. [FLEX]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Flex Ltd. [FLEX] stock

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 16.30%.

Flex Ltd. [FLEX]: Insider Ownership positions

There are presently around $7,962 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 54,204,896, which is approximately -0.746% of the company’s market cap and around 0.60% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 35,982,494 shares of the stock with an approximate value of $653.44 million in FLEX stocks shares; and JANUS HENDERSON GROUP PLC, currently with $474.54 million in FLEX stock with ownership of nearly 14.207% 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 167 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 30,220,809 shares. Additionally, 165 investors decreased positions by around 34,520,815 shares, while 72 investors held positions by with 373,694,221 shares. The mentioned changes placed institutional holdings at 438,435,845 shares, according to the latest SEC report filing. FLEX stock had 52 new institutional investments in for a total of 8,722,569 shares, while 46 institutional investors sold positions of 8,485,867 shares during the same period.


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