On May 30, 2023 at 09:45:05 ET an unusually large $182.78K block of Call contracts in Flex (FLEX) was bought, with a strike price of $29.00 / share, expiring in 234 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.35 sigmas above the mean, placing it in the 99.65th percentile of all recent large trades made in FLEX options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 764 funds or institutions reporting positions in Flex. This is an increase of 60 owner(s) or 8.52% in the last quarter. Average portfolio weight of all funds dedicated to FLEX is 0.53%, an increase of 5.83%. Total shares owned by institutions decreased in the last three months by 2.71% to 562,420K shares. The put/call ratio of FLEX is 0.36, indicating a bullish outlook.
Analyst Price Forecast Suggests 11.54% Upside
As of May 11, 2023, the average one-year price target for Flex is 28.90. The forecasts range from a low of 25.25 to a high of $32.55. The average price target represents an increase of 11.54% from its latest reported closing price of 25.91.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Flex is 31,214MM, an increase of 2.86%. The projected annual non-GAAP EPS is 2.47.
What are Other Shareholders Doing?
Primecap Management holds 49,378K shares representing 10.95% ownership of the company. In it’s prior filing, the firm reported owning 51,875K shares, representing a decrease of 5.06%. The firm decreased its portfolio allocation in FLEX by 2.79% over the last quarter.
Wellington Management Group Llp holds 27,232K shares representing 6.04% ownership of the company. In it’s prior filing, the firm reported owning 31,484K shares, representing a decrease of 15.61%. The firm decreased its portfolio allocation in FLEX by 87.06% over the last quarter.
Janus Henderson Group holds 26,838K shares representing 5.95% ownership of the company. In it’s prior filing, the firm reported owning 26,870K shares, representing a decrease of 0.12%. The firm decreased its portfolio allocation in FLEX by 67.26% over the last quarter.
JAENX – Janus Henderson Enterprise Fund Class T holds 18,019K shares representing 3.99% ownership of the company. No change in the last quarter.
Alliancebernstein holds 17,631K shares representing 3.91% ownership of the company. In it’s prior filing, the firm reported owning 17,800K shares, representing a decrease of 0.96%. The firm decreased its portfolio allocation in FLEX by 14.42% over the last quarter.
Flex Background Information
(This description is provided by the company.)
Flex is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
Key filings for this company:
This article originally appeared on Fintel
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