Flextronics International CAO Sells $259,329 in Stock (FLEX)
Flextronics International (NASDAQ:FLEX) CAO David P. Bennett unloaded 23,300 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $11.13, for a total value of $259,329.00. Following the sale, the chief accounting officer now directly owns 94,900 shares of the company’s stock, valued at approximately $1,056,237. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Flextronics International (NASDAQ:FLEX) traded up 0.63% on Thursday, hitting $11.24. 3,104,807 shares of the company’s stock traded hands. Flextronics International has a 1-year low of $7.01 and a 1-year high of $11.46. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $8.92. The company has a market cap of $6.581 billion and a P/E ratio of 18.93. Flextronics International also was the target of a significant growth in short interest in May. As of May 30th, there was short interest totalling 6,534,037 shares, a growth of 21.5% from the May 15th total of 5,380,006 shares. Based on an average daily volume of 6,375,178 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.1% of the company’s stock are short sold.
Flextronics International (NASDAQ:FLEX) last issued its quarterly 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.
A number of research firms have recently commented on FLEX. Analysts at RBC Capital raised their price target on shares of Flextronics International from $11.00 to $12.00 in a research note on Friday, June 6th. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Flextronics International presently has a consensus rating of “Hold” and an average price target of $10.53.
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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