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What Did We Learn From Flex Ltd. (NASDAQ: FLEX) Insider Trading?

Flex Ltd. (NASDAQ:FLEX) traded at $23.98 at last check on Tuesday, 01/24/23, made a downward move of -2.30% on its previous day’s price.

Looking at the stock we see that its previous close was $24.54 and the beta (5Y monthly) reads 1.43 with the day’s price range being $24.27 – $24.89. The company has a trailing 12-month PE ratio of 14.09. In terms of its 52-week price range, FLEX has a high of $25.12 and a low of $13.63. The company’s stock has gained about 12.41% over that past 30 days.

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Flex Ltd. has a market cap of $10.83 billion and is expected to release its quarterly earnings report on Jan 24, 2023 – Jan 30, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $0.58, with the EPS growth for the year raised at $2.21 for 2023 and $2.38 for next year. These figures represent 13.90% and 7.70% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $7.36 billion, with a low of $7.32 billion and a high of $7.41 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $28.96 billion, or 16.00% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the FLEX stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 11 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the Flex Ltd. (FLEX) stock as a Hold, while 9 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the FLEX stock currently stands at 0.84, and the most recent price level today is 5.34% off its SMA20 and 9.89% from its 50-day simple moving average. The RSI (14) is pointing at 63.77 while the volatility over the past week is 2.57% and jumps to 2.93% over the past one month. The beta value is 1.48, while the average true range (ATR) is currently pointing at 0.70. The average price target for the stock over the next 12 months is $26.25, with the estimates having a low of $23.00 and a high of $31.00. These price ends are 4.09% and -29.27% off the today’s price level respectively, although investors could be excited at the prospect of a -4.25% if the FLEX share price touches on the median price of $25.00.

Let’s briefly compare Flex Ltd. (FLEX) stock to its peers. We find that today’s price change of -2.30% and 49.54% over the past 12 months for FLEX competes that of Benchmark Electronics Inc. (BHE), which has seen its stock price rise 0.17% in the latest trading session and is 15.92% over the last one year. Another of its peers Jabil Inc. (JBL) has dropped -2.24% today, and was 26.55% up over the past year, while Sanmina Corporation (SANM) is also down -1.27% yet, while its price remains in the green at 62.29% over the same period. Flex Ltd. has a P/E ratio of 14.09 compared to Benchmark Electronics Inc.’s 17.19 and Jabil Inc.’s 11.69. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.43% and -1.17%, respectively, in early deals.

Coming back to Flex Ltd. (NASDAQ:FLEX), we note that the average 3-month trading volume was 4.55 million, while that of the preceding 10-day period stands at 6.59 million. Current shares outstanding are 455.00 million.

The insiders hold 0.30% of the company’s shares. The data shows that short shares as of Oct 13, 2022, stood at 8.66 million at a short ratio of 2.29. This represents a 1.89% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 8.43 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 14.35% up in year-to-date price movement.

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