Flex Ltd. (NASDAQ:FLEX), a technology company specializing in design, manufacturing, and supply chain solutions, experienced a notable decrease in short interest during the month of August. According to data released on September 18, 2023, there was a total of 4,220,000 shares held as short interest as of August 31st. This represents a decrease of 12.1% from the previous period’s total of 4,800,000 shares.
Considering an average daily trading volume of 3,400,000 shares, the short-interest ratio for Flex currently stands at 1.2 days. Additionally, approximately 1.0% of the company’s shares are currently being sold short.
In terms of investment activity surrounding Flex, several large investors have recently bought and sold shares of the company. Motco acquired a new position in Flex during the fourth quarter with an investment worth $27,000. Atticus Wealth Management LLC also purchased a new position in the first quarter with an approximate value of $27,000.
Moreover, Belpointe Asset Management LLC and Dark Forest Capital Management LP both acquired new positions in Flex during the fourth quarter valued at $36,000 each. Quarry LP joined them by acquiring a new stake worth about $38,000 during the first quarter. These institutional investors and hedge funds now hold around 95.26% ownership of Flex’s stock.
One notable insider transaction occurred when Kwang Hooi Tan sold 5,020 shares of Flex stock on June 21st for an average price of $26.97 per share. The total value amounted to $135,389.40.
Another significant insider sale happened on July 31st when CEO Revathi Advaithi sold 240^Comma^000 shares at an average price of $27.29 per share, totaling $6,549,600. Following this transaction, the CEO currently holds 1,585,268 shares in the company.
Moving on to financials, Flex reported its quarterly earnings results on July 26th. The company recorded earnings per share of $0.50 for the quarter, exceeding analysts’ consensus estimates of $0.41 by $0.09. Moreover, Flex achieved a net margin of 2.60% and a return on equity of 17.98%. The company’s revenue during the quarter was $7.34 billion, surpassing analysts’ expectations of $7.24 billion.
At present, Flex’s stock is trading at $25.69 per share as of September 18th. With a market capitalization of approximately $11 billion and a price-to-earnings ratio of 14.94%, it’s worth noting that Flex’s stock has experienced fluctuation over the past year—ranging from a low of $16.11 to a high of $28.90.
Looking ahead to the future prospects for Flex Ltd., analysts predict that the company will post earnings per share (EPS) of 2.13 for the current fiscal year.
In conclusion, while short interest in Flex saw a decline in August and prominent investors acquired new positions in the company throughout various quarters, insiders have also sold significant stakes in recent transactions—a notable one being CEO Revathi Advaithi’s sale of 240^Comma^000 shares on July 31st^Full stop^. With positive quarterly earnings results announced and an optimistic EPS forecasted by industry analysts for the current fiscal year^Full stop^ However, investors should be aware that fluctuations in stock prices may occur due to market conditions and other factors impacting the technology sector as a whole^Full stop^.
Updated on: 05/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
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Flex: Strong Financial Performance and Positive Outlook Amidst Market Challenges
Flex (NASDAQ:FLEX), a technology company, recently released its quarterly earnings results for the period ending July 26th. The company exceeded analysts’ expectations by reporting earnings per share of $0.50, which was $0.09 higher than the consensus estimate of $0.41. With a net margin of 2.60% and a return on equity of 17.98%, Flex demonstrated strong financial performance during this quarter.
In terms of revenue, Flex generated $7.34 billion, surpassing analysts’ predictions of $7.24 billion. These positive results indicate the company’s ability to effectively leverage its technological capabilities and capitalize on market opportunities.
Several research reports have been published about Flex in recent times, shedding light on its potential and attracting attention from investors and analysts alike. Credit Suisse Group reaffirmed an “outperform” rating for the company’s stock and set a price target of $34.00 in their research report released on July 24th. Bank of America also expressed optimism about Flex’s prospects by raising their target price from $28.00 to $31.00 in a report published on July 9th.
Barclays initiated coverage on Flex on September 7th, assigning an “overweight” rating with a price objective of $35.00 for the stock. This indicates Barclays’ belief in the company’s potential for future growth and value creation.
Additionally, StockNews.com recently commenced coverage on shares of Flex and issued a “hold” rating based on their analysis published on August 17th.
These research reports provide valuable insights into the performance and outlook of Flex, aiding investors in making informed decisions regarding their investment portfolios.
Flex has displayed resilience amidst challenging market conditions and has managed to outperform expectations consistently—an impressive feat in today’s competitive landscape.
As we approach the end of the current fiscal year, analysts predict that Flex will achieve earnings per share (EPS) of 2.13, further highlighting the company’s positive trajectory and stability.
Investors and industry observers are encouraged to stay updated with the latest stock analysis on Flex to gain a comprehensive understanding of its performance, financial standing, and future prospects in the technology sector.
As of September 18, 2023, Flex continues to be a company of interest due to its robust financial results, positive research reports from reputable firms, and its ability to navigate market challenges effectively.