Raymond James Maintains Their Hold Rating on Flex (FLEX)


Raymond James analyst Adam Tindle maintained a Hold rating on Flex (FLEX) yesterday. The company’s shares closed last Thursday at $13.69.

According to TipRanks.com, Tindle is ranked 0 out of 5 stars with an average return of -5.5% and a 36.0% success rate. Tindle covers the Technology sector, focusing on stocks such as Motorola Solutions, Arrow Electronics, and Jabil Circuit.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Flex with a $16.40 average price target.

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Based on Flex’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.15 billion and net profit of $51.82 million. In comparison, last year the company earned revenue of $6.18 billion and had a net profit of $44.87 million.

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Flex Ltd. engages in provision of real-time supply chain insight and logistics services to companies. It operates through the following segments: Communications and Enterprise Compute (CEC), Consumer Technologies Group (CTC), Industrial and Emerging Industries (IEI), High Reliability Solutions (HRS), and Corporate and Others. The Communications and Enterprise Compute segment includes telecom business of radio access base stations, remote radio heads, and small cells for wireless infrastructure; networking business; server and storage platforms for both enterprise and cloud-based deployments; next generation storage and security appliance products; and rack level solutions, converged infrastructure, and software-defined product solutions. The Consumer Technologies Group segment offers consumer-related businesses in Internet of Things enabled devices, audio, and consumer power electronics, mobile devices; and supply chain solutions for consumer, computing, and printing devices. The Industrial and Emerging Industries segment comprises of metering infrastructure, energy storage, smart lighting, smart solar energy; and industrial, including semiconductor and capital equipment, office solutions, household industrial, and lifestyle, industrial automation and kiosks. The High Reliability Solutions segment relates to health solutions business and automotive business. The company was founded in May 1990 and is headquartered in Singapore.

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