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Flex Ltd. (FLEX) Looks Ready for Growth Despite 13.79% Change This Year

Flex Ltd. (NASDAQ: FLEX) is 13.79% higher on its value in year-to-date trading and has touched a low of $13.63 and a high of $25.12 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FLEX stock was last observed hovering at around $24.24 in the last trading session, with the day’s gains setting it 0.18% off its average median price target of $25.00 for the next 12 months. It is also 21.23% off the consensus price target high of $31.00 offered by 11 analysts, but current levels are -6.17% lower than the price target low of $23.00 for the same period.

Currently trading at $24.42, the stock is 8.61% and 13.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.08 million and changing 0.74% at the moment leaves the stock 34.85% off its SMA200. FLEX registered 46.75% gain for a year compared to 6-month gain of 60.13%.

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The stock witnessed a 14.33% loss in the last 1 month and extending the period to 3 months gives it a 40.59%, and is 1.62% 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 3.12% over the week and 2.94% over the month.

Flex Ltd. (FLEX) has around 172648 employees, a market worth around $10.77B and $28.58B in sales. Current P/E ratio is 14.02 and Fwd P/E is 10.04. Profit margin for the company is 2.90%. Distance from 52-week low is 79.16% and -2.79% from its 52-week high. The company has generated returns on investments over the last 12 months (13.10%).

Flex Ltd. (FLEX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Flex Ltd. (FLEX) is a “Buy”. 11 analysts offering their recommendations for the stock, where 2 rate it as a Hold and 0 think it is a “Overweight”. 9 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 05/03/2023.The EPS is expected to grow by 60.00% this year.

Flex Ltd. (FLEX) Top Institutional Holders

The shares outstanding are 455.00M, and float is at 450.23M with Short Float at 3.25%.

Flex Ltd. (FLEX) Insider Activity

A total of 28 insider transactions have happened at Flex Ltd. (FLEX) in the last six months, with sales accounting for 13 and purchases happening 15 times. The most recent transaction is an insider sale by Stevens Charles K. III,the company’sDirector. SEC filings show that Stevens Charles K. III sold 20,000 shares of the company’s common stock on Dec 05 at a price of $21.69 per share for a total of $0.43 million. Following the sale, the insider now owns 52380.0 shares.

Flex Ltd. disclosed in a document filed with the SEC on Nov 30 that Hartung Michael P (Group President) sold a total of 12,376 shares of the company’s common stock. The trade occurred on Nov 30 and was made at $21.39 per share for $0.26 million. Following the transaction, the insider now directly holds 0.11 million shares of the FLEX stock.

Still, SEC filings show that on Nov 25, Hartung Michael P (Group President) disposed off 1,728 shares at an average price of $21.00 for $36292.0. The insider now directly holds 123,481 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 14.55% up over the past 12 months and Jabil Inc. (JBL) that is 23.76% higher over the same period. Sanmina Corporation (SANM) is 59.01% up on the 1-year trading charts.

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