Flex Ltd Company Profile (NASDAQ:FLEX)

Flex Ltd trades on the NASDAQ under the ticker symbol "FLEX."

Flex Ltd declared that its board has approved a stock repurchase plan on Saturday, August 19th 2017, which permits the company to repurchase $500,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy up to 65% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Flex Ltd (NASDAQ:FLEX) posted its quarterly earnings data on Thursday, July, 27th. The company reported $0.24 EPS for the quarter, beating the Zacks' consensus estimate of $0.22 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.91 billion. Flex Ltd had a net margin of 2.08% and a return on equity of 18.64%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. View Flex Ltd's Earnings History.

Flex Ltd is scheduled to release their next quarterly earnings announcement on Thursday, October, 26th 2017. View Earnings Estimates for Flex Ltd.

Flex Ltd updated its second quarter earnings guidance on Thursday, July, 27th. The company provided earnings per share guidance of $0.24 to $0.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. The company issued revenue guidance of $5.90 billion to $6.30 billion, compared to the consensus revenue estimate of $6.15 billion.

10 analysts have issued 12 month price targets for Flex Ltd's stock. Their predictions range from $15.00 to $19.50. On average, they anticipate Flex Ltd's share price to reach $17.39 in the next year. View Analyst Ratings for Flex Ltd.

Here are some recent quotes from research analysts about Flex Ltd stock:

• 1. According to Zacks Investment Research, "Flex’s ongoing transition to higher margin businesses is expected to hurt top-line growth in the near term. Sluggish growth expectation from the communication & telecom end-markets are also anticipated hurt revenues. Moreover, continuing investments on designing and innovation related to the “Sketch-to-Scale” portfolio transition is forecasted to keep margins under pressure. Further, leveraged balance sheet is a significant concern. Higher interest expense as well as tax rate is projected to negatively impact the bottom line. Nevertheless, Flex’s diverse end-market and expanding partner base is positive. However, the stock has underperformed the broader market on a year-to-date basis. Meanwhile, estimates have been going down lately ahead of the company's Q1 earnings release. The company has mixed record of earnings surprises in the recent quarters." (7/27/2017)
• 2. Royal Bank Of Canada analysts commented, "FLEX reported Dec-qtr results and guided Marqtr largely inline with expectations. The notable standout was strong FCF generation ($363M or $0.66/share) in Dec-qtr that highlights the strong FCF generation of this model as investors await benefits of multiple new ramps ' Nike, Bose, and other non-tech (consumer and healthcare) programs. We continue to expect in CY17 FLEX will see modest revenue growth (tech flat to down, but non-tech up double digits) and steady margin, EPS and FCF growth. We expect Nike program at volume to be $1B + revenues (2 years away) and generate op-margins of 8-10%. Maintain OP but modestly raising our estimates and adjusting our target to $17 (prior $16)." (1/27/2017)
• 3. Needham & Company LLC analysts commented, "Over the past few years, the mix at FLEX has been transitioning quite a bit while providing a more sustainable source of income generation. This is a dynamic we expect to continue as non-traditional segments (IEI & HRS) have solid long-term opportunities in under-penetrated markets while segments such as CTG are overhauled into next-gen and higher tech (i.e., Nike and Bose ramps); both bring very healthy income opportunities. In the big picture, we see an improving model in terms of diversity and a solid pathway toward accelerated income growth. Consequently, we reiterate our Buy and bump our target up slightly." (1/27/2017)

Some companies that are related to Flex Ltd include STMicroelectronics N.V. (STM), Xilinx (XLNX), Maxim Integrated Products (MXIM), Advanced Micro Devices (AMD), Freescale Semiconductor Ltd (FSL), Advanced Semiconductor Engineering (ASX), Marvell Technology Group (MRVL), ON Semiconductor Corporation (ON), Arrow Electronics (ARW), United Microelectronics Corporation (UMC), Coherent (COHR), Microsemi Corporation (MSCC), Jabil Circuit (JBL), Semiconductor Manufacturing International Corporation (SMI), Siliconware Precision Industries Company (SPIL), Cypress Semiconductor Corporation (CY), Cavium (CAVM) and Monolithic Power Systems (MPWR).

Flex Ltd's management team includes the folowing people:

• Michael D. Capellas, Chairman of the Board
• Paul J. Humphries, President - High Reliability Solutions
• Michael M. McNamara, Chief Executive Officer, Director
• Christopher E. Collier, Chief Financial Officer
• Francois P. Barbier, President - Global Operations & Components
• Scott Offer, Executive Vice President, General Counsel
• David P. Bennett, Chief Accounting Officer
• Marc A. Onetto, Independent Director
• Daniel H. Schulman, Independent Director
• Willy C. Shih Ph.D., Independent Director

Flex Ltd's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include Thompson Siegel & Walmsley LLC (0.86%), Earnest Partners LLC (0.43%), PGGM Investments (0.41%), California Public Employees Retirement System (0.29%), Oak Associates Ltd. OH (0.10%) and DekaBank Deutsche Girozentrale (0.07%). Company insiders that own Flex Ltd stock include Christopher Collier, David P Bennett, Francois Barbier, Glenview Capital Management, L, H Raymond Bingham, Jonathan S Hoak, Lay Koon Tan, Michael M Mcnamara, Paul Humphries, William D Watkins and Willy C Shih. View Institutional Ownership Trends for Flex Ltd.

Flex Ltd's stock was sold by a variety of institutional investors in the last quarter, including PGGM Investments, SG Americas Securities LLC, Korea Investment CORP, Russell Investments Group Ltd., Earnest Partners LLC, Teachers Retirement System of The State of Kentucky, California Public Employees Retirement System and Lesa Sroufe & Co. Company insiders that have sold Flex Ltd stock in the last year include Christopher Collier, David P Bennett, Francois Barbier, H Raymond Bingham, Lay Koon Tan, Michael M Mcnamara, Paul Humphries, William D Watkins and Willy C Shih. View Insider Buying and Selling for Flex Ltd.

Flex Ltd's stock was acquired by a variety of institutional investors in the last quarter, including South Street Advisors LLC, Thompson Siegel & Walmsley LLC, Mn Services Vermogensbeheer B.V., Oak Associates Ltd. OH, Canada Pension Plan Investment Board, Aperio Group LLC, DekaBank Deutsche Girozentrale and Cornerstone Capital Management Holdings LLC.. View Insider Buying and Selling for Flex Ltd.

Shares of Flex Ltd can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Flex Ltd stock can currently be purchased for approximately $16.66.