Insider Selling: Flextronics International CFO Sells 10,863 Shares of Stock (FLEX)
Flextronics International (NASDAQ:FLEX) CFO Christopher Collier sold 10,863 shares of the stock 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 $121,013.82. Following the completion of the transaction, the chief financial officer now directly owns 271,849 shares in the company, valued at approximately $3,028,398. The sale was disclosed in a document filed with the SEC, which is available at this link.
FLEX has been the subject of a number of recent research reports. 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 assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.53.
Shares of Flextronics International (NASDAQ:FLEX) traded down 1.16% on Friday, hitting $11.11. The stock had a trading volume of 4,047,636 shares. Flextronics International has a 52 week low of $7.01 and a 52 week high of $11.46. The stock’s 50-day moving average is $10.27 and its 200-day moving average is $8.9. The company has a market cap of $6.504 billion and a price-to-earnings ratio of 19.05.
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. 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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