Flex Ltd. [FLEX] Stock trading around $17.22 per share: What’s Next?

Flex Ltd. [NASDAQ: FLEX] surged by $0.35 during the normal trading session on Thursday and reaching a high of $17.40 during the day while it closed the day at $17.22. The company report on October 11, 2022 that Flex factory in Sorocaba, Brazil admitted into World Economic Forum Global Lighthouse Network.

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Factory implemented innovative Industry 4.0 technologies and circular economy capabilities to accelerate sustainable, advanced manufacturing practices.

Flex (NASDAQ: FLEX) today announced its factory site in Sorocaba, Brazil has been admitted into the World Economic Forum’s Global Lighthouse Network (GLN). This recognition is a result of the Fourth Industrial Revolution (4IR) technology adoption journey this Flex factory embarked on in 2017 that put equal emphasis on sustainability, people and economic growth. The GLN is a community of manufacturers that are world leaders in the adoption and integration of cutting-edge 4IR technologies to maximize efficiency and competitiveness at scale, transform business models and protect the environment. Flex CEO Revathi Advaithi will participate as a guest expert/speaker on a virtual panel hosted by the World Economic Forum Global Lighthouse Network on October 13 at 14:00 CEST titled, “Unlocking Sustainable and Human Centric Operations Using 4IR Technologies.” Those interested can access the streaming content here.

Flex Ltd. stock has also loss -4.91% of its value over the past 7 days. However, FLEX stock has inclined by 18.92% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.88% and lost -6.06% year-on date.

The market cap for FLEX stock reached $8.02 billion, with 458.00 million shares outstanding and 453.45 million shares in the current float. Compared to the average trading volume of 4.18M shares, FLEX reached a trading volume of 3971602 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 0.72, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 5.68. Price to Free Cash Flow for FLEX in the course of the last twelve months was 27.10 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 -4.91. With this latest performance, FLEX shares dropped by -6.26% in over the last four-week period, additionally plugging by 0.88% over the last 6 months – not to mention a drop of -5.80% 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 46.95, with the RSI for the last a single of trading hit 46.20, and the three-weeks RSI is set at 48.06 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 17.89, while it was recorded at 17.22 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 $7,553 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 54,204,896, 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 $619.62 million in FLEX stocks shares; and JANUS HENDERSON GROUP PLC, currently with $449.98 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 October and at the time of the October reporting period, where 170 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 30,443,369 shares. Additionally, 159 investors decreased positions by around 30,454,127 shares, while 71 investors held positions by with 377,739,353 shares. The mentioned changes placed institutional holdings at 438,636,849 shares, according to the latest SEC report filing. FLEX stock had 53 new institutional investments in for a total of 8,751,777 shares, while 45 institutional investors sold positions of 4,456,836 shares during the same period.


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