Live Price Coverage: Is Buying 52-Week Stock Like Flex Ltd a Winning Strategy?

Live Price Coverage: Is Buying 52 Week Stock Like Flex Ltd a Winning Strategy?

The stock of Flex Ltd (NASDAQ:FLEX) hit a new 52-week high and has $22.50 target or 60.00% above today’s $14.06 share price. The 7 months bullish chart indicates low risk for the $7.71B company. The 1-year high was reported on Oct, 5 by If the $22.50 price target is reached, the company will be worth $4.63 billion 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. About 1.76 million shares traded hands. Flex Ltd (NASDAQ:FLEX) has risen 22.48% since March 2, 2016 and is uptrending. It has outperformed by 14.22% 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 $137.09M for 14.06 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. Flextronics International Ltd. has been the topic of 25 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, September 2 by Zacks. The firm earned “Buy” rating on Friday, January 29 by Stifel Nicolaus. Citigroup maintained the stock with “Neutral” rating in Wednesday, October 21 report. The rating was maintained by Citigroup on Friday, April 29 with “Buy”. The stock of Flex Ltd (NASDAQ:FLEX) earned “Buy” rating by Bank of America on Thursday, May 12. JP Morgan initiated it with “Overweight” rating and $15 target price in Tuesday, April 26 report. The company was maintained on Friday, January 15 by RBC Capital Markets. Argus Research upgraded the stock to “Buy” rating in Friday, January 29 report. RBC Capital Markets maintained the shares of FLEX in a report on Monday, January 18 with “Outperform” rating. Zacks upgraded the stock to “Sell” rating in Tuesday, August 11 report.

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 2016 Q2. 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.
Evanston Investments Dba Evanston Advisors owns 538,384 shares or 2.07% of their US portfolio. Cubist Systematic Strategies Limited Liability Co last reported 0.13% of its portfolio in the stock. Kcg Hldg accumulated 257,962 shares or 0.06% of the stock. Gateway Inv Advisers Ltd owns 10,778 shares or 0% of their US portfolio. Clarivest Asset Mngmt Ltd Com holds 0.01% of its portfolio in Flex Ltd (NASDAQ:FLEX) for 26,142 shares. Panagora Asset has 2.60M shares for 0.15% of their US portfolio. Timber Hill Limited Liability Corporation reported 30,913 shares or 0% of all its holdings. Commonwealth Savings Bank Of Aus last reported 159,943 shares in the company. Aperio Gp Lc holds 60,243 shares or 0.01% of its portfolio. Axa last reported 0.02% of its portfolio in the stock. Whittier Trust Of Nevada Inc, a Nevada-based fund reported 1,575 shares. Cap Inv Counsel holds 0.13% of its portfolio in Flex Ltd (NASDAQ:FLEX) for 21,140 shares. Korea Inv accumulated 342,000 shares or 0.02% of the stock. Pggm last reported 2.90M shares in the company. Ameriprise Financial Inc last reported 551,881 shares in the company.

Insider Transactions: Since April 15, 2016, the stock had 0 insider purchases, and 28 sales for $30.85 million net activity. Another trade for 4,715 shares valued at $57,664 was sold by Collier Christopher. On Wednesday, May 18 MCNAMARA MICHAEL M sold $1.40M worth of the stock or 112,500 shares. $584,433 worth of Flex Ltd (NASDAQ:FLEX) was sold by HOAK JONATHAN S. Tan Lay Koon sold $4,307 worth of stock. 22,750 shares were sold by Barbier Francois, worth $289,150 on Monday, June 13. Bennett David P also sold $138,758 worth of Flex Ltd (NASDAQ:FLEX) shares. $971,256 worth of shares were sold by Humphries Paul on Monday, June 13.

More news for Flex Ltd (NASDAQ:FLEX) were recently published by:, which released: “Top Analyst Upgrades and Downgrades: Broadcom, Flex, Genworth, Micron …” on October 05, 2016.‘s article titled: “Flextronics International Ltd. Charts: Where Flex Stock is Going” and published on September 26, 2016 is yet another important article.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment