Price Action To Observe: Does Flex Ltd Have Any Gas After Today’s Huge Increase?

Price Action To Observe: Does Flex Ltd Have Any Gas After Today's Huge Increase?

The stock of Flex Ltd (NASDAQ:FLEX) is a huge mover today! About 6.30M shares traded hands or 66.67% up from the average. Flex Ltd (NASDAQ:FLEX) has risen 22.48% since March 2, 2016 and is uptrending. It has outperformed by 14.22% the S&P500.
The move comes after 7 months positive chart setup for the $7.70 billion company. It was reported on Oct, 5 by Barchart.com. We have $22.48 PT which if reached, will make NASDAQ:FLEX worth $4.62B more.

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. Citigroup maintained Flex Ltd (NASDAQ:FLEX) rating on Friday, April 29. Citigroup has “Buy” rating and $15 price target. The rating was upgraded by Zacks on Friday, August 21 to “Sell”. The stock has “Hold” rating given by Standpoint Research on Tuesday, May 24. The firm earned “Buy” rating on Wednesday, September 9 by UBS. The firm has “Buy” rating given on Friday, January 29 by Argus Research. On Wednesday, October 21 the stock rating was maintained by Citigroup with “Neutral”. The company was initiated on Friday, October 9 by B. Riley & Co. The stock of Flex Ltd (NASDAQ:FLEX) has “Outperform” rating given on Monday, January 18 by RBC Capital Markets. The firm has “Buy” rating given on Tuesday, October 20 by Needham. The stock of Flex Ltd (NASDAQ:FLEX) earned “Buy” rating by Bank of America on Thursday, May 12.

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 improved, 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.
Jpmorgan Chase & accumulated 2.63M shares or 0.01% of the stock. M&T Savings Bank Corp has 196,060 shares for 0.02% of their US portfolio. Blackrock Fund Advsrs accumulated 0% or 652,049 shares. Toth Advisory accumulated 15,478 shares or 0.06% of the stock. Teacher Retirement Sys Of Texas has 0.02% invested in the company for 309,687 shares. Winfield Assocs Incorporated accumulated 105 shares or 0% of the stock. Moreover, Adage Capital Prtnrs Gp Ltd Com has 0.01% invested in Flex Ltd (NASDAQ:FLEX) for 446,400 shares. Gateway Inv Advisers Lc, a Ohio-based fund reported 10,778 shares. The Illinois-based Evanston Investments Inc Dba Evanston has invested 2.07% in Flex Ltd (NASDAQ:FLEX). State Street owns 6.56 million shares or 0.01% of their US portfolio. Moreover, Aqr Cap Ltd Liability Company has 0.15% invested in Flex Ltd (NASDAQ:FLEX) for 7.06M shares. Ajo Limited Partnership owns 1.54 million shares or 0.08% of their US portfolio. Invesco Ltd owns 3.96 million shares or 0.02% of their US portfolio. Qs Ltd accumulated 84 shares or 0% of the stock. Moreover, Vertex One Asset Mngmt has 0.69% invested in Flex Ltd (NASDAQ:FLEX) for 363,700 shares.

Insider Transactions: Since April 15, 2016, the stock had 0 buys, and 28 insider sales for $30.85 million net activity. 352 shares with value of $4,313 were sold by Tan Lay Koon on Friday, April 15. Humphries Paul sold $155,627 worth of stock. Collier Christopher sold $57,664 worth of stock. MCNAMARA MICHAEL M sold 217,125 shares worth $2.74M. On Monday, May 23 Barbier Francois sold $2.64 million worth of the stock or 213,845 shares. $584,433 worth of Flex Ltd (NASDAQ:FLEX) was sold by HOAK JONATHAN S. Bennett David P sold $80,175 worth of Flex Ltd (NASDAQ:FLEX) on Tuesday, July 26.

More news for Flex Ltd (NASDAQ:FLEX) were recently published by: 247Wallst.com, which released: “Top Analyst Upgrades and Downgrades: Broadcom, Flex, Genworth, Micron …” on October 05, 2016. Profitconfidential.com‘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.

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