Insider Selling: Francois Barbier Sells 28,125 Shares of Flextronics International Stock (FLEX)
Flextronics International (NASDAQ:FLEX) Insider Francois Barbier sold 28,125 shares of Flextronics International stock on the open market in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $11.15, for a total transaction of $313,593.75. Following the completion of the transaction, the insider now directly owns 322,470 shares of the company’s stock, valued at approximately $3,595,541. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Flextronics International (NASDAQ:FLEX) traded up 0.63% during mid-day trading on Thursday, hitting $11.24. The stock had a trading volume of 3,104,807 shares. Flextronics International has a 52-week low of $7.01 and a 52-week high of $11.46. The stock has a 50-day moving average of $10.21 and a 200-day moving average of $8.92. The company has a market cap of $6.581 billion and a price-to-earnings ratio of 18.93. Flextronics International also was the recipient of a significant growth in short interest in the month of 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 shares are sold short.
Flextronics International (NASDAQ:FLEX) last announced its earnings results on Wednesday, April 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the 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 $1.02 earnings per share 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 given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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