Flex stock hits all-time high at 64.32 USD

Flex Ltd stock reached an all-time high of $64.32, marking a significant milestone for the $24 billion market cap company. According to InvestingPro data, analysts maintain price targets ranging from $50 to $70 for the stock. Over the past year, the stock has experienced an impressive increase of 83.57%, reflecting strong investor confidence and robust performance. The company maintains a "GOOD" financial health score on InvestingPro, with management actively buying back shares. This surge in stock price highlights Flex Ltd’s successful strategies and market position, as it continues to capture investor interest and achieve new heights. Trading at a P/E ratio of 28, the company’s ability to reach this all-time high underscores its resilience and growth potential in the current market environment. For deeper insights and 12 additional ProTips about Flex Ltd, visit InvestingPro.

In other recent news, Flex announced the launch of a globally manufactured data center platform integrating power, cooling, compute, and services into modular designs, aimed at accelerating infrastructure deployment by up to 30%. This unveiling took place at the OCP Global Summit and is intended for gigawatt data centers supporting AI and high-performance computing. Flex also introduced a Modular Rack-Level Cooling Distribution Unit designed by JetCool, a Flex company, to meet the increasing computational demands in data centers. This solution offers scalable cooling capacity from 600 kilowatts to 1.8 megawatts, providing flexibility for operators to deploy between two and six units per rack.

Additionally, Flex filed a prospectus supplement with the SEC, including a legal opinion from Allen & Gledhill LLP regarding the legality of shares covered by the prospectus. Meanwhile, Nextracker acquired Origami Solar for approximately $53 million, marking its entry into the solar panel frame market with a focus on steel frames. Nextracker also launched the NX PowerMerge trunk connector, a DC power component aimed at enhancing electrical balance of systems installation and reliability for ground-mounted solar power plants. This product introduction is part of Nextracker’s electrical balance of systems portfolio expansion following its acquisition of Bentek earlier this year.

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