Shares of Flextronics International Ltd. (NASDAQ:FLEX) have earned a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.94.
FLEX has been the topic of a number of recent research reports. Craig Hallum upgraded Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Zacks Investment Research downgraded Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Macquarie initiated coverage on Flextronics International in a research report on Thursday, June 22nd. They set a “neutral” rating on the stock. BidaskClub downgraded Flextronics International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $19.50 price target (up previously from $17.50) on shares of Flextronics International in a research report on Wednesday, May 17th.
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Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, July 27th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Flextronics International will post $1.09 earnings per share for the current year.
In other news, insider Paul Humphries sold 43,750 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $16.77, for a total transaction of $733,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Willy C. Shih sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $16.03, for a total value of $400,750.00. Following the transaction, the director now owns 206,895 shares of the company’s stock, valued at $3,316,526.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,133,609 shares of company stock valued at $18,584,817. 0.83% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in Flextronics International during the second quarter valued at approximately $171,000. Raymond James Trust N.A. raised its position in Flextronics International by 2.3% in the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after buying an additional 309 shares during the period. Thompson Siegel & Walmsley LLC raised its position in Flextronics International by 2.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 4,575,365 shares of the technology company’s stock worth $74,624,000 after buying an additional 126,700 shares during the period. Airain ltd bought a new position in Flextronics International during the second quarter worth about $203,000. Finally, Graybill Bartz & Assoc Ltd. raised its position in Flextronics International by 1.6% in the second quarter. Graybill Bartz & Assoc Ltd. now owns 178,129 shares of the technology company’s stock worth $2,905,000 after buying an additional 2,850 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.
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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