Flextronics International Ltd. (NASDAQ:FLEX) has earned an average recommendation of “Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $19.53.
A number of research analysts recently issued reports on the company. UBS AG lifted their target price on Flextronics International from $18.00 to $19.75 and gave the stock a “buy” rating in a report on Friday, October 27th. Citigroup Inc. lifted their price target on Flextronics International from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Argus lifted their price target on Flextronics International from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Flextronics International from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research cut Flextronics International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th.
In other news, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.93, for a total transaction of $43,457.04. Following the completion of the sale, the director now directly owns 114,394 shares in the company, valued at approximately $1,822,296.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of FLEX. FMR LLC lifted its holdings in Flextronics International by 7.8% in the 1st quarter. FMR LLC now owns 1,796,240 shares of the technology company’s stock worth $30,177,000 after purchasing an additional 129,993 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Flextronics International in the 1st quarter worth approximately $348,000. Marshall Wace North America L.P. acquired a new stake in Flextronics International in the 1st quarter worth approximately $348,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Flextronics International by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock worth $203,000 after purchasing an additional 516 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Flextronics International by 20.9% in the 1st quarter. Geode Capital Management LLC now owns 315,771 shares of the technology company’s stock worth $5,278,000 after purchasing an additional 54,486 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.
Flextronics International (FLEX) traded up $0.20 during trading hours on Friday, reaching $18.00. The company had a trading volume of 3,747,249 shares, compared to its average volume of 3,919,989. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.65 and a beta of 0.82.
Flextronics International (NASDAQ:FLEX) last released its earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.09 billion. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. Flextronics International’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. equities analysts expect that Flextronics International will post 1.09 EPS for the current fiscal year.
Flextronics International announced that its Board of Directors has initiated a stock buyback plan on Friday, August 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 65% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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