Flex (FLEX) Getting Somewhat Negative Press Coverage, Study Finds
News stories about Flex (NASDAQ:FLEX) have been trending somewhat negative this week, AlphaOne Sentiment reports. The research group, a service of Accern, ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Flex earned a media sentiment score of -0.01 on AlphaOne’s scale. AlphaOne also assigned news headlines about the technology company an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Alpha One Sentiment Analysis’s analysis:
- FlexTrade to Demo AR (marketsmedia.com)
- Flex expands Israel activity with new design center (timesofisrael.com)
- Critical VMware Flaw Opens Virtual Infrastructures to Attack (infosecurity-magazine.com)
- Troy Ave Takes Shots at Casanova on New Song “I Ain’t Mad at Cha” (xxlmag.com)
- Flex Fuel Vehicles Market – Global Industry Size, Share, Trends, Growth and Forecast For 2024 (openpr.com)
Shares of Flex (NASDAQ:FLEX) traded down 0.25% on Tuesday, hitting $15.96. The stock had a trading volume of 3,273,854 shares. The firm has a 50 day moving average price of $16.53 and a 200-day moving average price of $15.11. Flex has a 52 week low of $11.39 and a 52 week high of $16.99. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 29.67 and a beta of 0.75.
Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, January 26th. The technology company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.21 billion. Flex had a return on equity of 21.30% and a net margin of 1.24%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. Analysts anticipate that Flex will post $1.17 EPS for the current year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Flex from a “hold” rating to a “sell” rating in a research note on Wednesday, January 25th. Needham & Company LLC raised their target price on Flex from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Stifel Nicolaus raised their target price on Flex from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Royal Bank of Canada raised their target price on Flex from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Finally, Citigroup Inc set a $18.00 target price on Flex and gave the company a “buy” rating in a research note on Monday, March 20th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Flex presently has a consensus rating of “Buy” and an average price target of $16.75.
In other news, insider David P. Bennett sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $15.86, for a total transaction of $95,160.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Francois Barbier sold 52,911 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $16.42, for a total value of $868,798.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,204 shares of company stock worth $968,263. Company insiders own 0.94% of the company’s stock.
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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