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Flex Ltd. (FLEX) provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. 
It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker.
The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio. It also offers integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects.
In addition, the company provides value-added design and engineering services; and systems assembly and manufacturing services that include enclosures, testing services, and materials procurement and inventory management services.
Further, it offers chargers for smartphones and tablets; adapters for notebooks and gaming systems; power supplies for the server, storage, and networking markets; and power solutions, such as switchgear, busway, power distribution, modular power systems, and monitoring solutions and services.
Shares have formed a bullish "cup and handle" following it's latest quarterly report. On October 26th, FLEX reported 2nd Quarter September 2022 earnings of $0.50 per share on revenue of $7.8 billion. The consensus earnings estimate was $0.41 per share on revenue of $7.0 billion. Revenue grew 24.7% on a year-over-year basis.
Guides Higher: The company said it expects third quarter non-GAAP earnings of $0.57 to $0.63 per share on revenue of $7.30 billion to $7.70 billion. The current consensus earnings estimate is $0.57 per share on revenue of $7.18 billion for the quarter ending December 31, 2022. The company also said it now expects fiscal 2023 non-GAAP earnings of $2.20 to $2.35 per share on revenue of $29.10 billion to $30.10 billion. The company's previous guidance was earnings of $2.09 to $2.24 per share on revenue of $28.40 billion to $29.40 billion and the current consensus earnings estimate is $2.14 per share on revenue of $28.10 billion for the year ending March 31, 2023.
Entry Point: $22.00
Trading Range: $13.63 to $22.24
Stop Loss: $20.90
Target Price: $24.20
