In last trading session, Flex Ltd (NASDAQ:FLEX) saw 4.3 million shares changing hands with its beta currently measuring 1.20. Company’s recent per share price level of $28.73 trading at $0.42 or 1.48% at ring of the bell on the day assigns it a market valuation of $12.10B. That closing price of FLEX’s stock is at a discount of -7.66% from its 52-week high price of $30.93 and is indicating a premium of 50.78% from its 52-week low price of $14.14. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.21 million shares which gives us an average trading volume of 5.49 million if we extend that period to 3-months.
Flex Ltd (NASDAQ:FLEX) trade information
Upright in the green during last session for gaining 1.48%, in the last five days FLEX remained trading in the green while hitting it’s week-highest on Friday, 03/22/24 when the stock touched $28.73 price level, adding 0.1% to its value on the day. Flex Ltd’s shares saw a change of 29.67% in year-to-date performance and have moved 6.64% in past 5-day. Flex Ltd (NASDAQ:FLEX) showed a performance of 2.64% in past 30-days. Number of shares sold short was 6.43 million shares which calculate 1.02 days to cover the short interests.
Flex Ltd (FLEX) estimates and forecasts
Statistics highlight that Flex Ltd is scoring comparatively higher than the scores of other players of the relevant industry. The company added 55.38% of value to its shares in past 6 months, showing an annual growth rate of 6.36% while that of industry is 1.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -8.30% in the current quarter and calculating -3.50% decrease in the next quarter. This year revenue growth is estimated to fall -8.30% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $6.1 billion for the same. And 7 analysts are in estimates of company making revenue of $6.28 billion in the next quarter that will end on Jun 2024.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 16.61% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 46.36% while estimates for its earnings growth in next 5 years are of 15.60%.
FLEX Dividends
Flex Ltd is more likely to be releasing its next quarterly report between May 08 and May 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Flex Ltd (NASDAQ:FLEX)’s Major holders
Insiders are in possession of 0.68% of company’s total shares while institution are holding 97.46 percent of that, with stock having share float percentage of 98.13%. Investors also watch the number of corporate investors in a company very closely, which is 97.46% institutions for Flex Ltd that are currently holding shares of the company. Primecap Management Company is the top institutional holder at FLEX for having 47.14 million shares of worth $1.3 billion. And as of Jun 29, 2023, it was holding 10.63% of the company’s outstanding shares.
The second largest institutional holder is FMR, LLC, which was holding about 44.42 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 10.01% of outstanding shares, having a total worth of $1.23 billion.
On the other hand, Janus Henderson Enterprise Fund and Vanguard Horizon Fund-Capital Opportunity Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 17.23 million shares of worth $476.34 million or 3.89% of the total outstanding shares. The later fund manager was in possession of 15.01 million shares on Jun 29, 2023, making its stake of worth around $414.82 million in the company or a holder of 3.38% of company’s stock.
