Flextronics International CEO Michael M. Mcnamara Sells 97,795 Shares (FLEX)
Flextronics International (NASDAQ:FLEX) CEO Michael M. Mcnamara sold 97,795 shares of Flextronics International stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $9.66, for a total transaction of $944,699.70. Following the completion of the transaction, the chief executive officer now directly owns 2,068,239 shares of the company’s stock, valued at approximately $19,979,189. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $12.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, analysts at Argus upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Flextronics International has an average rating of “Hold” and an average target price of $10.40.
Flextronics International (NASDAQ:FLEX) traded up 4.58% on Thursday, hitting $10.04. 10,683,045 shares of the company’s stock traded hands. Flextronics International has a 52 week low of $7.01 and a 52 week high of $10.06. The stock has a 50-day moving average of $9.37 and a 200-day moving average of $8.48. The company has a market cap of $6.008 billion and a price-to-earnings ratio of 16.38.
Flextronics International (NASDAQ:FLEX) last released its earnings data on Wednesday, April 30th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.04. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.10 billion. Analysts expect that Flextronics International will post $1.02 EPS for the current fiscal year.
Flextronics International Ltd. (NASDAQ:FLEX) is a global provider of global supply chain solutions, through which the Company designs, build, ship and services a packaged electronic product to original equipment manufacturers (OEMs) in the markets, which include High Reliability Solutions (HRS), which is consists of its medical, automotive, defense and aerospace businesses; High Velocity Solutions (HVS), which includes its mobile devices business, including smart phones, and consumer electronics, including game consoles, high-volume computing business, including notebook personal computing (PC), tablets and printers; Industrial and Emerging Industries (IEI), which is consists of its household appliances, equipment, and industries businesses, and Integrated Network Solutions (INS), which includes its telecommunications infrastructure, data networking, connected home, and server and storage businesses.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.