Flextronics International CEO Michael M. Mcnamara Sells 62,862 Shares (FLEX)
Flextronics International (NASDAQ:FLEX) CEO Michael M. Mcnamara unloaded 62,862 shares of the company’s stock on the open market in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $10.38, for a total value of $652,507.56. Following the completion of the sale, the chief executive officer now directly owns 2,214,319 shares of the company’s stock, valued at approximately $22,984,631. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Flextronics International (NASDAQ:FLEX) traded up 1.21% on Thursday, hitting $10.83. The stock had a trading volume of 5,170,474 shares. Flextronics International has a one year low of $7.01 and a one year high of $10.86. The stock has a 50-day moving average of $9.67 and a 200-day moving average of $8.66. The company has a market cap of $6.340 billion and a price-to-earnings ratio of 18.14.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Flextronics International will post $1.01 earnings per share for the current fiscal year.
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, May 22nd. 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.40.
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.
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