A Reversal for Flex Ltd. (FLEX) Is Not Near. The Stock Reaches 52-Week High Today

January 14, 2018 - By Adrian Erickson

Investors sentiment decreased to 0.92 in 2017 Q3. Its down 0.27, from 1.19 in 2017Q2. It is negative, 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.
Ftb Advsr stated it has 0.05% in Flex Ltd. (NASDAQ:FLEX). First Quadrant L P Ca has invested 0.01% in Flex Ltd. (NASDAQ:FLEX). Aperio Group Ltd Liability accumulated 71,993 shares. Bluemountain Mngmt invested 0% in Flex Ltd. (NASDAQ:FLEX). Automobile Association holds 0.05% or 1.02M shares in its portfolio. Dekabank Deutsche Girozentrale has 0.04% invested in Flex Ltd. (NASDAQ:FLEX). Caisse De Depot Et Placement Du Quebec has invested 0.03% in Flex Ltd. (NASDAQ:FLEX). 1.21 million are owned by Lord Abbett Communications Limited Liability Company. Brown Advisory accumulated 243,355 shares. Finance Architects stated it has 3,745 shares. Ogorek Anthony Joseph Ny Adv invested in 0% or 100 shares. Scotia Capital stated it has 135,313 shares. Sei Invs reported 0.15% stake. 2.74M were reported by Tiaa Cref Inv Ltd Co. Morgan Stanley invested 0.01% in Flex Ltd. (NASDAQ:FLEX).

Since August 3, 2017, it had 0 insider purchases, and 2 selling transactions for $444,327 activity. 2,728 shares were sold by Tan Lay Koon, worth $43,457 on Tuesday, August 15.

The stock of Flex Ltd. (NASDAQ:FLEX) hit a new 52-week high and has $19.91 target or 4.00 % above today’s $19.14 share price. The 8 months bullish chart indicates low risk for the $10.12B company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $19.91 price target is reached, the company will be worth $404.60M 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 2.03% or $0.38 during the last trading session, reaching $19.14. About 2.86M shares traded. Flex Ltd. (NASDAQ:FLEX) has risen 35.11% since January 14, 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 earnings per share, down 23.33 % or $0.07 from last year’s $0.3 per share. FLEX’s profit will be $121.55 million for 20.80 P/E if the $0.23 EPS becomes a reality. After $0.38 actual earnings per share 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. As per Friday, January 29, the company rating was upgraded by Argus Research. The stock of Flex Ltd. (NASDAQ:FLEX) has “Strong Buy” rating given on Friday, January 29 by Raymond James. RBC Capital Markets maintained it with “Outperform” rating and $22 target in Tuesday, February 21 report. Bank of America maintained Flex Ltd. (NASDAQ:FLEX) on Thursday, May 12 with “Buy” rating. As per Friday, August 21, the company rating was upgraded by Zacks. The company was maintained on Tuesday, October 20 by Needham. The firm has “Buy” rating by UBS given on Friday, October 27. As per Tuesday, May 24, the company rating was downgraded by Standpoint Research. Macquarie Research initiated the shares of FLEX in report on Thursday, June 22 with “Hold” rating. Needham maintained the stock with “Buy” rating in Friday, January 27 report.

More news for Flex Ltd. (NASDAQ:FLEX) were recently published by: Nasdaq.com, which released: “Noteworthy ETF Inflows: SPDW, PKX, FLEX, SKM” on January 09, 2018. Nasdaq.com‘s article titled: “Why Should You Retain Flex (FLEX) Stock in Your Portfolio” and published on December 22, 2017 is yet another important article.

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. The company has market cap of $10.12 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 18.95 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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