Flex Ltd (NASDAQ: FLEX) is 38.42% higher on its value in year-to-date trading and has touched a low of $16.83 and a high of $34.12 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 $30.45 in the last trading session, with the day’s gains setting it 0.22%.
Currently trading at $30.67, the stock is -1.14% and 0.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.33 million and changing 0.72% at the moment leaves the stock 11.96% off its SMA200. FLEX registered 53.27% gain for a year compared to 6-month loss of 2.06%.
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The stock witnessed a 8.80% gain in the last 1 month and extending the period to 3 months gives it a -5.13%, and is -4.81% down 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 3.21% over the week and 2.66% over the month.
Flex Ltd (FLEX) has around 148115 employees, a market worth around $12.18B and $27.06B in sales. Current P/E ratio is 13.76 and Fwd P/E is 10.96. Profit margin for the company is 3.54%. Distance from 52-week low is 82.21% and -10.11% from its 52-week high. The company has generated returns on investments over the last 12 months (11.79%).
Flex Ltd quarterly earnings per share for the current quarter are estimated at 0.57 with sales reaching $6.54B over the same period.The EPS is expected to grow by 12.87% this year, but quarterly earnings will post -1.30% year-over-year.
660.0 institutions hold shares in Flex Ltd (FLEX), with institutional investors hold 101.49% of the company’s shares. The shares outstanding are 408.10M, and float is at 393.40M with Short Float at 1.70%. Institutions hold 100.64% of the Float.
The top institutional shareholder in the company is PRIMECAP MANAGEMENT CO/CA/ with over 44.29 million shares valued at $1.31 billion. The investor’s holdings represent 10.1807 of the FLEX Shares outstanding. As of 2024-06-30, the second largest holder is FMR LLC with 40.15 million shares valued at $1.18 billion to account for 9.2306 of the shares outstanding. The other top investors are WELLINGTON MANAGEMENT GROUP LLP which holds 38.08 million shares representing 8.7546 and valued at over $1.12 billion, while JANUS HENDERSON GROUP PLC holds 6.0987 of the shares totaling 26.53 million with a market value of $782.34 million.
Flex Ltd (FLEX) Insider Activity
The most recent transaction is an insider sale by OFFER DAVID SCOTT, the company’s EVP, General Counsel. SEC filings show that OFFER DAVID SCOTT sold 10,000 shares of the company’s common stock on Aug 26 ’24 at a price of $32.95 per share for a total of $0.33 million. Following the sale, the insider now owns 0.16 million shares.
Flex Ltd disclosed in a document filed with the SEC on Aug 23 ’24 that OFFER DAVID SCOTT (EVP, General Counsel) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Aug 23 ’24 and was made at $31.99 per share for $0.32 million. Following the transaction, the insider now directly holds 0.17 million shares of the FLEX stock.
Still, SEC filings show that on Aug 23 ’24, OFFER DAVID SCOTT (Officer) Proposed Sale 20,000 shares at an average price of $31.99 for $0.64 million. The insider now directly holds shares of Flex Ltd (FLEX).
