Flex Ltd. (FLEX) on Focus After Trading At 52-Week Highs

January 18, 2018 - By Stephen Andrade

Investors sentiment decreased to 0.92 in Q3 2017. Its down 0.27, from 1.19 in 2017Q2. It dived, as 33 investors sold Flex Ltd. shares while 106 reduced holdings. 38 funds opened positions while 90 raised stakes. 497.19 million shares or 0.70% less from 500.69 million shares in 2017Q2 were reported.
Moreover, Lord Abbett Llc has 0.06% invested in Flex Ltd. (NASDAQ:FLEX) for 1.21 million shares. Capital World Investors stated it has 0.02% in Flex Ltd. (NASDAQ:FLEX). Greenwich Wealth Mgmt Ltd Com has invested 0.52% of its portfolio in Flex Ltd. (NASDAQ:FLEX). Ogorek Anthony Joseph Adv accumulated 100 shares. Next Fincl Gru Inc accumulated 0% or 425 shares. 371,536 were accumulated by Geode Capital Management Limited Com. Nomura Asset Management Com, a Japan-based fund reported 81,991 shares. Kentucky-based Regent Inv Mgmt Limited Liability has invested 0.07% in Flex Ltd. (NASDAQ:FLEX). Jennison Assocs Ltd Liability Company, New York-based fund reported 8.68 million shares. Connor Clark & Lunn Inv Management has 242,132 shares for 0.02% of their portfolio. Raymond James Tru Na has invested 0.02% in Flex Ltd. (NASDAQ:FLEX). Bessemer Grp Incorporated holds 0% in Flex Ltd. (NASDAQ:FLEX) or 10,132 shares. Thompson Siegel & Walmsley Ltd holds 0.99% or 5.00M shares. Panagora Asset Mgmt holds 0.03% or 457,163 shares. Amp Capital reported 206,763 shares.

Since August 3, 2017, it had 0 buys, and 2 insider sales for $444,327 activity. SHIH WILLY C had sold 25,000 shares worth $400,870 on Thursday, August 3.

The stock of Flex Ltd. (NASDAQ:FLEX) hit a new 52-week high and has $20.85 target or 7.00 % above today’s $19.49 share price. The 6 months bullish chart indicates low risk for the $10.30 billion company. The 1-year high was reported on Jan, 18 by Barchart.com. If the $20.85 price target is reached, the company will be worth $721.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.26% or $0.05 during the last trading session, reaching $19.49. About 368,048 shares traded. Flex Ltd. (NASDAQ:FLEX) has risen 35.11% since January 18, 2017 and is uptrending. It has outperformed by 18.41% the S&P500.

Analysts await Flex Ltd. (NASDAQ:FLEX) to report earnings on January, 25. They expect $0.23 EPS, down 23.33 % or $0.07 from last year’s $0.3 per share. FLEX’s profit will be $121.55M for 21.18 P/E if the $0.23 EPS becomes a reality. After $0.38 actual EPS reported by Flex Ltd. for the previous quarter, Wall Street now forecasts -39.47 % negative EPS growth.

Flex Ltd. (NASDAQ:FLEX) Ratings Coverage

Among 15 analysts covering Flextronics International Ltd. (NASDAQ:FLEX), 11 have Buy rating, 1 Sell and 3 Hold. Therefore 73% are positive. Flextronics International Ltd. had 46 analyst reports since July 28, 2015 according to SRatingsIntel. RBC Capital Markets maintained Flex Ltd. (NASDAQ:FLEX) rating on Wednesday, January 3. RBC Capital Markets has “Buy” rating and $21.0 target. On Wednesday, September 2 the stock rating was downgraded by Zacks to “Sell”. The stock of Flex Ltd. (NASDAQ:FLEX) earned “Buy” rating by Stifel Nicolaus on Sunday, October 15. On Tuesday, October 20 the stock rating was maintained by Needham with “Buy”. UBS maintained it with “Buy” rating and $21.5 target in Tuesday, December 19 report. The stock has “Buy” rating by Bank of America on Thursday, May 12. The firm has “Buy” rating by UBS given on Wednesday, August 2. The firm earned “Outperform” rating on Friday, January 15 by RBC Capital Markets. JP Morgan initiated Flex Ltd. (NASDAQ:FLEX) on Tuesday, April 26 with “Overweight” rating. Goldman Sachs maintained Flex Ltd. (NASDAQ:FLEX) on Wednesday, October 5 with “Buy” rating.

Another recent and important Flex Ltd. (NASDAQ:FLEX) news was published by Streetinsider.com which published an article titled: “Form 3 FLEX LTD. For: Jan 08 Filed by: Li Jennifer” on January 08, 2018.

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. The company has market cap of $10.30 billion. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables clients to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies. It has a 19.3 P/E ratio. The firm also provides design and engineering services, including contract design and joint development manufacturing services, which cover various technical competencies, such as system architecture, user interface and industrial design, mechanical engineering, technology, enclosure systems, thermal and tooling design, electronic system design, reliability and failure analysis, and component level development engineering; and systems assembly and manufacturing services.

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