Flex Spin-Off of Nextracker Leads to 302% Increase in Share Price Over Last Five Years
Flex (NASDAQ:FLEX) recently announced the completion of its spin-off of Nextracker Inc. to Flex shareholders on a pro rata basis. This move has resulted in a 302% increase in share price for long-term holders over the last five years. This news has caught the attention of investors and industry experts, making Flex a great place to start for those looking to investigate the stock further.
Flex shareholders received approximately 0.17 shares of Nextracker Class A common stock for every Flex ordinary share held as of the record date of December 29, 2023. As a result, Flex no longer holds any shares of Nextracker common stock. Flex ordinary shares will continue to trade on Nasdaq under the ticker symbol “FLEX” and shares of Nextracker Class A common stock will continue to trade under the ticker symbol “NXT”.
Flex (Reg. No. 199002645H) is a global manufacturing partner that helps customers design and build products that improve the world. With a presence in 30 countries, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
The company’s share price has also seen a 22% increase in the last quarter, potentially assisted by the buoyant market (up 12% in 90 days). The share price growth is also a reflection of the company’s strong performance. Flex has achieved compound earnings per share (EPS) growth of 26% per year over the last five years, closely matching the 32% average annual increase in share price.
Flex has also improved its bottom line over the last three years, further solidifying its position as a resilient and attractive choice for those seeking long-term investments. This news is a testament to the company’s strong fundamentals and potential for growth in the future.
