Movement Alert｜Flex Ltd. Falls 3.56% in Regular Trading, Electronic Manufacturing Services Sector Broadly Weak as Profit-Taking Pressure Persists

Market Focus06-05 22:11

On June 5, Flex Ltd. fell 3.56% in regular trading, trading at $155.39/share, with trading volume of $101 million.

On the news front, the Electronic Manufacturing Services sector continued to weaken broadly, with Fabrinet down 5.75%, TTM Technologies down 5.67%, Celestica down 5.31%, Jabil Circuit down 2.1%, and TE Connectivity down 2.04%. The company had previously announced the spin-off of its high-growth Cloud and Power Infrastructure (CPI) business into an independent publicly listed entity, focusing on AI data center critical power and thermal management technologies including power products, embedded solutions, and cooling systems. That catalyst had driven consecutive gains with significant cumulative upside in recent sessions.

Short-term profit-taking pressure persisted following the extended rally, compounded by sustained sector-wide selling pressure, jointly pushing the stock lower. The company's latest annual report shows revenue growth of 8.14% year-over-year and net income growth of 5.01%, while Barclays recently raised its target price to $203 with an Overweight rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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