What Next for Flex Ltd Stock After Today’s Bullish Options Activity?

 What Next for Flex Ltd Stock After Today's Bullish Options Activity?

In today’s session Flex Ltd (FLEX) registered an unusually high (2,031) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious FLEX increase. With 2,031 contracts traded and 11154 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: FLEX170120C00014000 closed last at: $0.81 or 42.1% up. About 562,063 shares traded hands. Flex Ltd (NASDAQ:FLEX) has risen 24.98% since March 4, 2016 and is uptrending. It has outperformed by 16.94% the S&P500.

Analysts await Flex Ltd (NASDAQ:FLEX) to report earnings on October, 17. They expect $0.25 earnings per share, up 4.17% or $0.01 from last year’s $0.24 per share. FLEX’s profit will be $137.36M for 14.16 P/E if the $0.25 EPS becomes a reality. After $0.23 actual earnings per share reported by Flex Ltd for the previous quarter, Wall Street now forecasts 8.70% EPS growth.

Flex Ltd (NASDAQ:FLEX) Ratings Coverage

Out of 14 analysts covering Flextronics International Ltd. (NASDAQ:FLEX), 11 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 79% are positive. $16 is the highest target while $10 is the lowest. The $13.52 average target is -4.52% below today’s ($14.16) stock price. Flextronics International Ltd. has been the topic of 26 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks on Friday, August 21 to “Sell”. As per Friday, October 9, the company rating was initiated by B. Riley & Co. As per Wednesday, October 21, the company rating was maintained by Citigroup. Stifel Nicolaus upgraded the stock to “Buy” rating in Friday, January 29 report. The stock of Flex Ltd (NASDAQ:FLEX) earned “Hold” rating by Standpoint Research on Tuesday, May 24. Needham maintained Flex Ltd (NASDAQ:FLEX) on Tuesday, October 20 with “Buy” rating. As per Friday, January 29, the company rating was upgraded by Raymond James. On Wednesday, October 5 the stock rating was maintained by Goldman Sachs with “Buy”. The firm has “Sell” rating given on Wednesday, September 2 by Zacks. As per Friday, December 11, the company rating was upgraded by Citigroup.

According to Zacks Investment Research, “Flextronic International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking, consumer electronics and computer industries. The company’s strategy is to provide customers with the ability to outsource, on a global basis, a complete product wherethe company’s take responsibility for engineering, supply chain management, assembly, integration, test and logistics management. The company provides complete product design services, including electrical and mechanical, circuit and layout.”

Insitutional Activity: The institutional sentiment increased to 1.26 in Q2 2016. Its up 0.21, from 1.05 in 2016Q1. The ratio increased, as 28 funds sold all Flex Ltd shares owned while 100 reduced positions. 52 funds bought stakes while 109 increased positions. They now own 436.77 million shares or 2.18% more from 427.45 million shares in 2016Q1.
Primecap Mngmt Co Ca reported 51.21 million shares or 0.64% of all its holdings. Deutsche National Bank & Trust Ag holds 2.32M shares or 0.02% of its portfolio. S&T National Bank Pa has 1.42M shares for 2.75% of their US portfolio. Springbok Cap Mngmt Lc has 300 shares for 0% of their US portfolio. Inv Counsel last reported 21,140 shares in the company. Dai Ichi Life has invested 0.04% of its portfolio in Flex Ltd (NASDAQ:FLEX). Brandes Partners L P owns 693,836 shares or 0.13% of their US portfolio. Apg Asset Nv has invested 0.02% of its portfolio in Flex Ltd (NASDAQ:FLEX). Bnp Paribas Invest Prns holds 0.05% or 496,769 shares in its portfolio. Earnest Limited Liability Corporation holds 0.43% of its portfolio in Flex Ltd (NASDAQ:FLEX) for 3.33M shares. Ws Mgmt Lllp holds 2% of its portfolio in Flex Ltd (NASDAQ:FLEX) for 4.90M shares. Kbc Nv holds 166,186 shares or 0.03% of its portfolio. Lowe Brockenbrough And reported 15,750 shares or 0.03% of all its holdings. Grt Capital Prtn Llc last reported 102,491 shares in the company. Checchi Cap Advisers owns 707 shares or 0% of their US portfolio.

Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 28 insider sales for $30.85 million net activity. Another trade for 307,001 shares valued at $3.95M was made by MCNAMARA MICHAEL M on Monday, June 13. Collier Christopher sold $1.48M worth of stock or 119,250 shares. 5,151 Flex Ltd (NASDAQ:FLEX) shares with value of $64,954 were sold by HOAK JONATHAN S. Humphries Paul sold $2.65M worth of stock or 203,489 shares. 352 Flex Ltd (NASDAQ:FLEX) shares with value of $4,313 were sold by Tan Lay Koon. 213,845 Flex Ltd (NASDAQ:FLEX) shares with value of $2.64 million were sold by Barbier Francois. Shares for $40,105 were sold by Bennett David P on Monday, June 13.

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The company has a market cap of $7.78 billion. The Firm designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers . It has a 18.01 P/E ratio. The Company’s divisions include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

FLEX Company Profile

Flex Ltd, formerly Flextronics International Ltd., incorporated on May 1, 1990, is a well-known provider of design, engineering, manufacturing, and supply chain services and solutions. The Firm designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). The Company’s divisions include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC). The HRS segment consists of its medical business, including consumer health, digital health, disposables, drug delivery, diagnostics, life sciences and imaging equipment; its automotive business, including vehicle electronics, connectivity, and clean technologies, and its defense and aerospace businesses, which are focused on commercial aviation, defense and military. The CTG segment includes its mobile devices business, including smart phones; its consumer electronics business, including connected living, wearable electronics including digital sport, game consoles, and connectivity devices, and its high-volume computing business, including various supply chain solutions for notebook personal computers (PCs), tablets, and printers. In addition, its CTG segment includes supply chain optimization for non-electronics products, such as shoes and clothing.

More recent Flex Ltd (NASDAQ:FLEX) news were published by: Rttnews.com which released: “Flex Ltd. (FLEX) Has Climbed To A New High For The Year” on October 05, 2016. Also Profitconfidential.com published the news titled: “Flextronics International Ltd. Charts: Where Flex Stock is Going” on September 26, 2016. 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: Broadcom, Flex, Genworth, Micron …” with publication date: October 05, 2016 was also an interesting one.

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