Flex Ltd. (NASDAQ: FLEX) is 7.12% higher on its value in year-to-date trading and has touched a low of $5.36 and a high of $19.12 in the current 52-week trading range. The FLEX stock was last observed hovering at around $18.67 in the last trading session, with the day’s gains setting it 0.59% off its average median price target of $18.00 for the next 12 months. It is also 8.29% off the consensus price target high of $21.00 offered by 11 analysts, but current levels are -13.29% lower than the price target low of $17.00 for the same period.
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Currently trading at $19.26, the stock is 9.87% and 17.70% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.33 million and changing 3.16% at the moment leaves the stock 61.81% off its SMA200. FLEX registered 52.13% gain for a year compared to 6-month gain of 96.13%. The firm has a 50-day simple moving average (SMA 50) of $17.17 and a 200-day simple moving average (SMA200) of $13.05.
The stock witnessed a 14.78% loss in the last 1 month and extending the period to 3 months gives it a 60.50%, and is 7.18% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.57% over the week and 3.11% over the month.
Flex Ltd. (FLEX) has around 160000 employees, a market worth around $9.65B and $23.08B in sales. Current P/E ratio is 30.05 and Fwd P/E is 13.80. Profit margin for the company is 1.40%. Distance from 52-week low is 259.33% and 0.73% from its 52-week high. The company has generated returns on investments over the last 12 months (3.00%).
Flex Ltd. (FLEX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Flex Ltd. (FLEX) is a “Overweight”. 11 analysts offering their recommendations for the stock have an average rating of 2.10, where 5 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Flex Ltd. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $6.23B over the same period.The EPS is expected to shrink by -3.00% this year, but quarterly earnings will post -5.30% year-over-year. Quarterly sales are estimated to shrink -3.60% in year-over-year returns.
Flex Ltd. (FLEX) Top Institutional Holders
395 institutions hold shares in Flex Ltd. (FLEX), with 2.96M shares held by insiders accounting for 0.59% while institutional investors hold 101.10% of the company’s shares. The shares outstanding are 501.00M, and float is at 498.20M with Short Float at 1.31%. Institutions hold 100.51% of the Float.
The top institutional shareholder in the company is Primecap Management Company with over 69.41 million shares valued at $773.22 million. The investor’s holdings represent 13.85% of the FLEX Shares outstanding. As of Sep 29, 2020, the second largest holder is Wellington Management Company, LLP with 52.79 million shares valued at $588.08 million to account for 10.53% of the shares outstanding. The other top investors are FMR, LLC which holds 50.09 million shares representing 9.99% and valued at over $557.99 million, while Janus Henderson Group PLC holds 4.79% of the shares totaling 23.99 million with a market value of $267.28 million.
Flex Ltd. (FLEX) Insider Activity
A total of 25 insider transactions have happened at Flex Ltd. (FLEX) in the last six months, with sales accounting for 5 and purchases happening 20 times. The most recent transaction is an insider sale by Barbier Francois, the company’s Group President. SEC filings show that Barbier Francois sold 57,255 shares of the company’s common stock on Dec 18 at a price of $17.08 per share for a total of $0.98 million. Following the sale, the insider now owns 0.62 million shares.
Flex Ltd. disclosed in a document filed with the SEC on Dec 17 that Bennett David P (Chief Accounting Officer) sold a total of 6,372 shares of the company’s common stock. The trade occurred on Dec 17 and was made at $17.36 per share for $0.11 million. Following the transaction, the insider now directly holds 0.16 million shares of the FLEX stock.
Still, SEC filings show that on Dec 01, OFFER DAVID SCOTT (EVP, General Counsel) disposed off 21,890 shares at an average price of $16.56 for $0.36 million. The insider now directly holds 509,196 shares of Flex Ltd. (FLEX).
Flex Ltd. (FLEX): Who are the competitors?
The company’s main competitors (and peers) include Benchmark Electronics Inc. (BHE) that is trading -14.87% down over the past 12 months. Jabil Inc. (JBL) is 8.71% up on the 1-year trading charts. Short interest in the company’s stock has fallen -28.68% from the last report on Nov 12, 2020 to stand at a total of 8.39 million short shares sold with a short interest ratio of 1.88.