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Could Flex Ltd. (FLEX)’s Current Volatility Hinder Its Future Potential?

Flex Ltd. (NASDAQ:FLEX) has a beta value of 1.48 and has seen 6.63 million shares traded in the last trading session. The company, currently valued at $10.83B, closed the last trade at $24.54 per share which meant it gained $0.12 on the day or 0.49% during that session. The FLEX stock price is -2.36% off its 52-week high price of $25.12 and 44.46% above the 52-week low of $13.63. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.37 million shares traded. The 3-month trading volume is 4.50 million shares.

Flex Ltd. (NASDAQ:FLEX) trade information

Sporting 0.49% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the FLEX stock price touched $24.54 or saw a rise of 1.41%. Year-to-date, Flex Ltd. shares have moved 14.35%, while the 5-day performance has seen it change 2.63%. Over the past 30 days, the shares of Flex Ltd. (NASDAQ:FLEX) have changed 12.41%. Short interest in the company has seen 8.66 million shares shorted with days to cover at 2.29.

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Flex Ltd. (FLEX) estimates and forecasts

Figures show that Flex Ltd. shares have outperformed across the wider relevant industry. The company’s shares have gained 61.13% over the past 6 months, with this year growth rate of 16.33%, compared to 11.00% for the industry. Revenue growth from the last financial year stood is estimated to be 16.00%.

2 analysts offering their estimates for the company have set an average revenue estimate of $7.36 billion for the current quarter. 2 have an estimated revenue figure of $6.9 billion for the next quarter concluding in Mar 2023.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 27.10% over the past 5 years. Earnings growth for 2023 is a modest 60.00% while over the next 5 years, the company’s earnings are expected to increase by 16.85%.

FLEX Dividends

Flex Ltd. is expected to release its next earnings report between January 24 and January 30 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Flex Ltd. (NASDAQ:FLEX)’s Major holders

Insiders own 0.58% of the company shares, while shares held by institutions stand at 99.51% with a share float percentage of 100.09%. Investors are also buoyed by the number of investors in a company, with Flex Ltd. having a total of 521 institutions that hold shares in the company. The top two institutional holders are Primecap Management Company with over 54.2 million shares worth more than $784.34 million. As of Jun 29, 2022, Primecap Management Company held 11.88% of shares outstanding.

The other major institutional holder is Wellington Management Group, LLP, with the holding of over 35.98 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $520.67 million and represent 7.89% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Janus Henderson Enterprise Fund and Vanguard Horizon Fund-Capital Opportunity Fund. As of Jun 29, 2022, the former fund manager holds about 3.95% shares in the company for having 18.02 million shares of worth $260.73 million while later fund manager owns 15.9 million shares of worth $230.12 million as of Jun 29, 2022, which makes it owner of about 3.49% of company’s outstanding stock.

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