Flextronics International CEO Michael M. Mcnamara Sells 158,000 Shares (FLEX)
Flextronics International (NASDAQ:FLEX) CEO Michael M. Mcnamara sold 158,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $11.14, for a total value of $1,760,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Flextronics International presently has an average rating of “Hold” and a consensus target price of $10.53.
Flextronics International (NASDAQ:FLEX) traded down 1.16% on Friday, hitting $11.11. 4,047,636 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 has a 50-day moving average of $10.27 and a 200-day moving average of $8.9. The company has a market cap of $6.504 billion and a P/E ratio of 19.05.
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. On average, analysts predict that Flextronics International will post $1.02 earnings per share 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.
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