Flex Ltd (NASDAQ:FLEX) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 12,611,575 shares, a decline of 14.1% from the April 15th total of 14,678,508 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily volume of 5,413,468 shares, the short-interest ratio is currently 2.3 days.

FLEX has been the topic of several research reports. ValuEngine upgraded shares of Flex from a “sell” rating to a “hold” rating in a report on Monday, April 1st. BidaskClub upgraded shares of Flex from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.33.

Shares of Flex stock opened at $9.47 on Friday. The stock has a market capitalization of $4.93 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.80. Flex has a 52-week low of $6.74 and a 52-week high of $15.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 0.75.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Flex had a net margin of 0.36% and a return on equity of 2.99%. Flex’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, analysts anticipate that Flex will post 0.98 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its position in shares of Flex by 1.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 58,900 shares of the technology company’s stock valued at $589,000 after acquiring an additional 992 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Flex by 10.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,175 shares of the technology company’s stock valued at $142,000 after acquiring an additional 1,382 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Flex by 1.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,845 shares of the technology company’s stock valued at $1,228,000 after acquiring an additional 1,601 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of Flex by 13.5% in the first quarter. Wetherby Asset Management Inc. now owns 13,481 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,606 shares during the period. Finally, Private Advisor Group LLC lifted its position in Flex by 10.6% during the first quarter. Private Advisor Group LLC now owns 19,330 shares of the technology company’s stock worth $193,000 after purchasing an additional 1,850 shares during the period. 96.07% of the stock is owned by institutional investors.

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Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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