Market Analysts see Flex Ltd. [FLEX] gaining to $24. Time to buy?

Flex Ltd. [NASDAQ: FLEX] closed the trading session at $16.33 on 09/26/22. The day’s price range saw the stock hit a low of $16.18, while the highest price level was $17.095. The company report on August 30, 2022 that Flex Announces Christopher Butler as President, Industrial Business.

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Flex (NASDAQ: FLEX) today announced Christopher Butler has been named President, Industrial Business, effective immediately. Reporting directly to Becky Sidelinger, President, Reliability Solutions, Mr. Butler will be responsible for business planning and strategy development and execution for the Core Industrial and Power markets.

Mr. Butler joins Flex with over 25 years of experience in the Industrial and Power space. In his role, he will oversee the power, industrial devices and industrial robotics business lines. His teams will deliver a competitive advantage to Industrial customers by supporting the entire product lifecycle, from design and manufacturing to after-market services. He will also lead teams supporting strategic customers in Networking and Computing markets.

The stocks have a year to date performance of -10.91 percent and weekly performance of -11.25 percent. The stock has been moved at -5.61 percent over the last six months. The stock has performed -12.86 percent around the most recent 30 days and changed 5.02 percent over the most recent 3-months.

If compared to the average trading volume of 3.95M shares, FLEX reached to a volume of 8730721 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 0.71, 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 1.83, with the Price to Cash per share for the same quarter was set at 5.62. Price to Free Cash Flow for FLEX in the course of the last twelve months was 25.98 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 -11.25. With this latest performance, FLEX shares dropped by -12.86% in over the last four-week period, additionally sinking by -5.61% over the last 6 months – not to mention a drop of -14.23% 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 36.10, with the RSI for the last a single of trading hit 28.47, and the three-weeks RSI is set at 41.14 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 17.49, while it was recorded at 17.32 for the last single week of trading, and 16.84 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 $7,160 million, or 99.70% 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 0.70% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 35,982,494 shares of the stock with an approximate value of $587.59 million in FLEX stocks shares; and JANUS HENDERSON GROUP PLC, currently with $426.72 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 168 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 30,221,206 shares. Additionally, 164 investors decreased positions by around 34,516,888 shares, while 73 investors held positions by with 373,704,869 shares. The mentioned changes placed institutional holdings at 438,442,963 shares, according to the latest SEC report filing. FLEX stock had 53 new institutional investments in for a total of 8,722,966 shares, while 45 institutional investors sold positions of 8,481,940 shares during the same period.


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