Flex Target of Unusually High Options Trading (FLEX)

Flex Ltd (NASDAQ:FLEX) saw unusually large options trading on Monday. Stock traders acquired 6,401 call options on the stock. This represents an increase of 650% compared to the average volume of 853 call options.

Flex (FLEX) opened at $18.41 on Thursday. Flex has a 12 month low of $14.22 and a 12 month high of $19.11. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $9,730.00, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.81.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Flex had a return on equity of 22.71% and a net margin of 2.25%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. equities research analysts anticipate that Flex will post 1.09 EPS for the current year.

FLEX has been the topic of several research reports. BidaskClub cut Flex from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Citigroup upped their target price on Flex from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. UBS Group upped their target price on Flex from $18.00 to $19.75 and gave the company a “buy” rating in a report on Friday, October 27th. Argus upped their target price on Flex from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Stifel Nicolaus upped their target price on Flex from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.75.

In other news, Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $17.73, for a total transaction of $159,570.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Large investors have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Flex during the second quarter worth approximately $171,000. Airain ltd acquired a new position in shares of Flex during the second quarter worth approximately $203,000. Raymond James Trust N.A. raised its position in shares of Flex by 2.3% during the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after purchasing an additional 309 shares during the period. Woodmont Investment Counsel LLC acquired a new position in shares of Flex during the third quarter worth approximately $244,000. Finally, IFP Advisors Inc raised its position in shares of Flex by 13.6% during the third quarter. IFP Advisors Inc now owns 27,978 shares of the technology company’s stock worth $464,000 after purchasing an additional 3,353 shares during the period. 95.22% of the stock is currently owned by institutional investors.

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Flex Company Profile

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

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