Shares of Flextronics International Ltd. (NASDAQ:FLEX) have earned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.94.
A number of analysts have issued reports on FLEX shares. Zacks Investment Research downgraded shares of Flextronics International from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a $16.00 price target (up from $15.00) on shares of Flextronics International in a report on Saturday, April 29th. Bank of America Corporation reiterated a “buy” rating and issued a $19.50 price target (up from $17.50) on shares of Flextronics International in a report on Wednesday, May 17th. Needham & Company LLC lifted their price target on shares of Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, ValuEngine upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Flextronics International (NASDAQ FLEX) traded up 0.19% on Tuesday, hitting $15.87. 777,752 shares of the stock traded hands. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 25.23 and a beta of 0.79. The company’s 50 day moving average price is $16.42 and its 200-day moving average price is $16.40. Flextronics International has a 52-week low of $12.41 and a 52-week high of $17.76.
Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.91 billion. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. Flextronics International’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts forecast that Flextronics International will post $1.09 earnings per share for the current fiscal year.
In other news, insider Paul Humphries sold 43,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $16.77, for a total value of $733,687.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael M. Mcnamara sold 285,288 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $16.22, for a total transaction of $4,627,371.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,133,609 shares of company stock valued at $18,584,817. 0.83% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in FLEX. Advisors Asset Management Inc. boosted its stake in shares of Flextronics International by 16.9% in the first quarter. Advisors Asset Management Inc. now owns 57,288 shares of the technology company’s stock valued at $962,000 after buying an additional 8,282 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Flextronics International by 8.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 24,413 shares of the technology company’s stock valued at $410,000 after buying an additional 2,001 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Flextronics International by 0.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 80,570 shares of the technology company’s stock valued at $1,354,000 after buying an additional 231 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Flextronics International by 29,761.6% in the first quarter. Canada Pension Plan Investment Board now owns 21,799 shares of the technology company’s stock worth $366,000 after buying an additional 21,726 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Flextronics International by 12.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 179,612 shares of the technology company’s stock worth $3,017,000 after buying an additional 20,000 shares during the last quarter. 92.54% of the stock is owned by hedge funds and other institutional investors.
Flextronics International Company Profile
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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