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Strength Seen in Flex (FLEX): Can Its 9.0% Jump Turn into More Strength?
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Flex (FLEX - Free Report) shares rallied 9% in the last trading session to close at $28.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% loss over the past four weeks.
The increase in share price can be attributed to robust demand for the company’s diversified product portfolio. The automotive business is benefiting due to program wins and steady vehicle content expansion.
The company’s industrial segment is likely to benefit from solid demand for EV charging, automation and cloud/critical power. Apart from this, the company expects Communications & Enterprise Compute segment to benefit from secular growth trends in cloud and networking technology.
This electronics designer and manufacturer is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $6.73 billion, down 13.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Flex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FLEX going forward to see if this recent jump can turn into more strength down the road.
Flex is part of the Zacks Electronics - Miscellaneous Products industry. SiTime (SITM - Free Report) , another stock in the same industry, closed the last trading session 8% higher at $126.61. SITM has returned 0.2% in the past month.
For SiTime, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. This represents a change of -68.8% from what the company reported a year ago. SiTime currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Flex (FLEX): Can Its 9.0% Jump Turn into More Strength?
Flex (FLEX - Free Report) shares rallied 9% in the last trading session to close at $28.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% loss over the past four weeks.
The increase in share price can be attributed to robust demand for the company’s diversified product portfolio. The automotive business is benefiting due to program wins and steady vehicle content expansion.
The company’s industrial segment is likely to benefit from solid demand for EV charging, automation and cloud/critical power. Apart from this, the company expects Communications & Enterprise Compute segment to benefit from secular growth trends in cloud and networking technology.
This electronics designer and manufacturer is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $6.73 billion, down 13.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Flex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FLEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Flex is part of the Zacks Electronics - Miscellaneous Products industry. SiTime (SITM - Free Report) , another stock in the same industry, closed the last trading session 8% higher at $126.61. SITM has returned 0.2% in the past month.
For SiTime, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. This represents a change of -68.8% from what the company reported a year ago. SiTime currently has a Zacks Rank of #3 (Hold).