Flex Ltd (NASDAQ:FLEX) showcased multiple solutions that traverse different industries during CES 2019 including healthcare, mobility, automotive and smart living solutions.
The company has developed an immersive experience through which it demonstrates how it makes it easy for its clients to develop the next generation of electronics. This is vital especially in this generation where technology changes rapidly. Flex interacts with customers from different technology fields including healthcare, mobility, smart living, design and the automotive industry among others.
“At CES this year, Flex will demonstrate new ways of understanding and experiencing smart technology,” stated Doug Britt, Flex’s president of integrated solutions.
He also pointed out that the company would demonstrate the product manufacturing process as well as how those products are connected and utilized. Britt also mentioned artificial intelligence (AI) and 5G as one of the hottest trends in 2019. These trends have been pushing firms to use new technologies.
Paul Humphries, the High-Reliability Solutions president at Flex, noted that the AI advancements and IoT ecosystems offer new capabilities to traditional offerings. He also added that companies from different industries whether telecommunications or the automotive market have to integrate intelligence into their products. The companies must also be ready to roll out the products at a global or regional scale to cater to the demand.
Flex plans to mainly focus on the following categories:
- Health solutions- Flex plans to extend its impact to the healthcare industry through its medical-grade design, IoT digital health platform, and manufacturing platform. Flex will introduce its solution to the BrightInsight™ digital health platform, consumer healthcare devices, and drug delivery systems.
- Smart living- Flex also plans to jump on the smart devices sector through a network of technologies that are designed for home use. They include smart appliance voice interfaces that allow human-machine interaction.
- Mobility and the automotive sector- Flex had also planned to demonstrate its cross-mobility knowhow and design capabilities. It will traverse some of the most popular trends in the automotive sector such as smart technology, electrification, connectivity, and autonomy.
Flex had also announced that it planned to showcase award-winning supply-chain expertise through its Flex Pulse intelligence. The latter was made as an end-to-end solution for global supply chain management, and it offers real-time visibility in manufacturing, inventory, and transportation.
Flex had scheduled its CES 2019 showcase from January 8 to January 11. This year’s CES tech event was scheduled to take place at the Venetian and Palazzo Congress Center which is located in Las Vegas.
Stock performance
Flex stock closed Wednesday’s trading session at $8.02 after surging by 2.95%) from the previous close. The stock has a 52-week high of $19.71 while its current 52-week low is $6.74. This means that the stock is currently closer to the 52-week low than it is to the 52-week high.
As far as Flex’s fundamentals are concerned, the company has a 2.1% return on assets, 9.3%. Return On Investment and 9.8% Return On Equity. The firm also reported a 6.2% Gross Margin, as well as a 2.1% operating margin. Flex also achieved a 0.16% price to earnings (P/S) ratio while its Price to book ratio (P/B) was 1.31%.
Flex’s current EPS is $0.56, and its projected EPS growth for 2019 is 36.5% while its estimated growth for next year is 11.18%. The company’s current consensus price target is $12.82. Many Wall Street analysts have so far given Flex their rating over the past few days, and it looks like quite a number have issued a neutral rating. Some of them include JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS).