5 Best Stocks Under $20

4. Flex Ltd. (NASDAQ:FLEX)

Stock Price as of May 25: $15.63

Stock Price as of November 17: $19.79

Number of Hedge Fund Holders: 48

Flex Ltd. (NASDAQ:FLEX) is the third biggest electronics manufacturing services (EMS) company globally in terms of revenue. The Singaporean company has a very low-cost structure due to its significant presence in developing countries. Flex Ltd. (NASDAQ:FLEX) is pinning its hopes on numerous high-growth and next-generation industries like automotive, cloud data centers, and digital healthcare. Together, these industries contribute only 15% of the top line, but the revenue from these high-growth industries is expected to compound by 20% annually until 2025.

On May 18, James Kelleher at Argus upgraded Flex Ltd. (NASDAQ:FLEX) stock from a Neutral to a Buy rating. The analyst has given a target price of $22 and anticipates the top line of Flex Ltd. (NASDAQ:FLEX) to drive the improvement in margin. Kelleher highlighted that Flex Ltd. (NASDAQ:FLEX) has a “strong” backlog, and the company’s “focused execution” is offsetting any supply-chain disruptions.

Of the 912 elite funds tracked by Insider Monkey at the end of Q1 2022, Flex Ltd. (NASDAQ:FLEX) was held by 48 hedge funds.