Flex Ltd. [NASDAQ: FLEX] gained 2.65% or 0.61 points to close at $23.61 with a heavy trading volume of 11714565 shares. The company report on May 11, 2023 at 9:00 AM that Flex to Participate in Upcoming Investor Conference.
Flex (NASDAQ: FLEX) has announced members of its leadership team will participate in the upcoming investor conference:.
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J.P. Morgan 51st Annual Global Technology, Media and Communications (TMC) ConferenceDate: May 23, 2023Presentation time: 11:35am PT / 2:35pm ET.
It opened the trading session at $23.13, the shares rose to $24.09 and dropped to $23.07, the range by which the price of stock traded the whole day. The daily chart for FLEX points out that the company has recorded 23.81% gains over the past six months. However, it is still -73.22% lower than its most recent low trading price.
If we look at the average trading volume of 4.28M shares, FLEX reached to a volume of 11714565 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Flex Ltd. [FLEX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLEX shares is $29.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLEX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.68, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 2.37, with the Price to Cash per share for the same quarter was set at 5.84. Price to Free Cash Flow for FLEX in the course of the last twelve months was 85.04 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for FLEX stock
Flex Ltd. [FLEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.17. With this latest performance, FLEX shares gained by 8.50% in over the last four-week period, additionally plugging by 23.81% over the last 6 months – not to mention a rise of 47.47% 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 72.18, with the RSI for the last a single of trading hit 81.73, and the three-weeks RSI is set at 65.45 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 21.41, while it was recorded at 21.90 for the last single week of trading, and 20.56 for the last 200 days.
Flex Ltd. [FLEX]: A deeper dive into fundamental analysis
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 Total Capital for FLEX is now 11.97, given the latest momentum, and Return on Invested Capital for the company is 12.12. Return on Equity for this stock inclined to 24.75, with Return on Assets sitting at 5.32. When it comes to the capital structure of this company, Flex Ltd. [FLEX] has a Total Debt to Total Equity ratio set at 118.20. Additionally, FLEX Total Debt to Total Capital is recorded at 54.17, with Total Debt to Total Assets ending up at 25.25. Long-Term Debt to Equity for the company is recorded at 92.01, with the Long-Term Debt to Total Capital now at 42.17.
Reflecting on the efficiency of the workforce at the company, Flex Ltd. [FLEX] managed to generate an average of $5,421 per employee. Receivables Turnover for the company is 6.41 with a Total Asset Turnover recorded at a value of 1.48.Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.40.
Flex Ltd. [FLEX]: An earnings per share (EPS) analysis
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 16.56%.
An analysis of insider ownership at Flex Ltd. [FLEX]
There are presently around $10,476 million, or 101.50% 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 51,875,426, which is approximately -3.784% of the company’s market cap and around 0.30% of the total institutional ownership; FMR LLC, holding 32,727,697 shares of the stock with an approximate value of $772.7 million in FLEX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $642.95 million in FLEX stock with ownership of nearly -13.505% of the company’s market capitalization.
Positions in Flex Ltd. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 205 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 45,519,187 shares. Additionally, 201 investors decreased positions by around 38,788,751 shares, while 70 investors held positions by with 359,386,660 shares. The mentioned changes placed institutional holdings at 443,694,598 shares, according to the latest SEC report filing. FLEX stock had 75 new institutional investments in for a total of 11,398,783 shares, while 54 institutional investors sold positions of 4,831,554 shares during the same period.