The price of Flex Ltd (NASDAQ:FLEX) shares last traded on Wall Street fell -1.60% to $26.38.
Based on available information, 11 analysts follow Flex Ltd (NASDAQ:FLEX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $32.00, we find $34.00. Given the previous closing price of $26.81, this indicates a potential upside of 26.82 percent. FLEX stock price is now 1.97% away from the 50-day moving average and 6.17% away from the 200-day moving average. The market capitalization of the company currently stands at $11.43B.
Among analysts, 1 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $33.57 as their price target over the next twelve months.
With the price target of $35, Barclays recently initiated with Overweight rating for Flex Ltd (NASDAQ: FLEX).
In other news, McSweeney Erin, Director sold 9,500 shares of the company’s stock on Oct 31. The stock was sold for $243,580 at an average price of $25.64. Upon completion of the transaction, the Director now directly owns 27,227 shares in the company, valued at $0.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 30, EVP, General Counsel OFFER DAVID SCOTT sold 150,000 shares of the business’s stock. A total of $3,872,310 was realized by selling the stock at an average price of $25.82. This leaves the insider owning 237,094 shares of the company worth $6.25 million. Insiders disposed of 1,396,092 shares of company stock worth roughly $36.83 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
A candlestick chart of Flex Ltd (NASDAQ: FLEX) showed a price of $26.44 on Thursday morning. During the past 12 months, Flex Ltd has had a low of $19.15 and a high of $28.90. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.53, and a quick ratio of 0.82. According to the stock market information, the enterprise value for the company is $12.67B, which is based on a 15.26 price-to-earnings ratio, a 0.98 price-to-earnings-growth ratio, and a beta of 1.27. The fifty day moving average price for FLEX is $25.87 and a two-hundred day moving average price translates $24.86 for the stock.
The latest earnings results from Flex Ltd (NASDAQ: FLEX) was released for Sep, 2023. According to the Electronic Components Company, earnings per share came in at $0.68, beating analysts’ expectations of $0.58 by 0.1. This compares to $0.52 EPS in the same period last year. The net profit margin was 2.62% and return on equity was 15.59% for FLEX. The company reported revenue of $7.47 billion for the quarter, compared to $7.77 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.8 percent. For the current quarter, analysts expect FLEX to generate $6.73B in revenue.
Flex Ltd(FLEX) Company Profile
Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices. Its FRS segment provides complex ramps with specialized production models and critical environments, which comprise automotive including next generation mobility, autonomous, connectivity, electrification, and smart technologies; health solutions, such as medical devices, medical equipment, and drug delivery; and industrial solutions including capital equipment, industrial devices, and renewables and grid edge. The Nextracker segment offers solar tracker and software solutions, which are used in utility-scale and ground-mounted distributed generation solar projects. In addition, it provides a broad array of services including design and engineering, component services, rapid prototyping, fulfillment, and circular economy solutions. The company was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in September 2016. Flex Ltd. was founded in 1969 and is headquartered in Singapore.