Flex Ltd (NASDAQ: FLEX) is 47.68% higher on its value in year-to-date trading and has touched a low of $16.83 and a high of $34.42 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 $33.43 in the last trading session, with the day’s loss setting it -0.71%.
Currently trading at $32.72, the stock is 5.22% and 5.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.56 million and changing -2.12% at the moment leaves the stock 14.58% off its SMA200. FLEX registered 66.72% gain for a year compared to 6-month gain of 15.05%. The firm has a 50-day simple moving average (SMA 50) of $31.035 and a 200-day simple moving average (SMA200) of $28.670795.
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The stock witnessed a 0.71% loss in the last 1 month and extending the period to 3 months gives it a 11.03%, and is 1.77% 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 3.43% over the week and 3.69% over the month.
Flex Ltd (FLEX) has around 148115 employees, a market worth around $12.99B and $27.06B in sales. Current P/E ratio is 14.68 and Fwd P/E is 11.72. Profit margin for the company is 3.54%. Distance from 52-week low is 94.39% and -4.94% from its 52-week high. The company has generated returns on investments over the last 12 months (11.79%).
with sales reaching $6.54B over the same period.The EPS is expected to grow by 12.47% this year, but quarterly earnings will post -1.60% year-over-year.
Flex Ltd (FLEX) Top Institutional Holders
654.0 institutions hold shares in Flex Ltd (FLEX), with institutional investors hold 101.21% of the company’s shares. The shares outstanding are 408.10M, and float is at 394.23M with Short Float at 1.78%. Institutions hold 100.53% 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
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Flex Ltd disclosed in a document filed with the SEC on Aug 26 ’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 26 ’24 and was made at $32.95 per share for $0.33 million. Following the transaction, the insider now directly holds 0.16 million shares of the FLEX stock.
Still, SEC filings show that on Aug 23 ’24, OFFER DAVID SCOTT (EVP, General Counsel) disposed off 10,000 shares at an average price of $31.99 for $0.32 million. The insider now directly holds 168,094 shares of Flex Ltd (FLEX).
