The stock of Flex Ltd (NASDAQ:FLEX) last traded at $31.37, up 5.45% from the previous session.
FLEX stock price is now 10.22% away from the 50-day moving average and 35.77% away from the 200-day moving average. The market capitalization of the company currently stands at $12.60B.
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With the price target maintained at $27, Craig Hallum recently Downgraded its rating from Buy to Hold for Flex Ltd (NASDAQ: FLEX). On September 07, 2023, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $35, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Advaithi Revathi, Chief Executive Officer sold 161,052 shares of the company’s stock on May 09 ’24. The stock was sold for $4,614,172 at an average price of $28.65. Upon completion of the transaction, the Chief Executive Officer now directly owns 1,903,404 shares in the company, valued at $59.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09 ’24, Chief Financial Officer Lundstrom Paul sold 35,733 shares of the business’s stock. A total of $1,023,625 was realized by selling the stock at an average price of $28.65. This leaves the insider owning 507,752 shares of the company worth $15.93 million. A total of 0.93% of the company’s stock is owned by insiders.
During the past 12 months, Flex Ltd has had a low of $16.83 and a high of $30.93. As of last week, the company has a debt-to-equity ratio of 0.73, a current ratio of 1.52, and a quick ratio of 0.79. According to the stock market information, the enterprise value for the company is $14013471744, which is based on a 13.65 price-to-earnings ratio, a 0.77 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for FLEX is $28.509 and a two-hundred day moving average price translates $23.517223 for the stock.
The latest earnings results from Flex Ltd (NASDAQ: FLEX) was released for 2024-03-31. According to the Electronic Components Company, earnings per share came in at 0.57, beating analysts’ expectations of 0.51 by 0.06. This compares to $0.03 EPS in the same period last year. The net profit margin was 3.58% and return on equity was 18.85% for FLEX. The company reported revenue of $4.5 billion for the quarter, compared to $5.63 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.02 percent. For the current quarter, analysts expect FLEX to generate $5.9B in revenue.
