Insider Selling: Flextronics International Director Sells 3,634 Shares of Stock (FLEX)
Flextronics International (NASDAQ:FLEX) Director Lay Koon Tan sold 3,634 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $10.82, for a total transaction of $39,319.88. Following the completion of the transaction, the director now directly owns 69,993 shares of the company’s stock, valued at approximately $757,324. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Flextronics International in a research note on Friday, July 25th. They now have a $12.00 price target on the stock, up previously from $9.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Flextronics International in a research note on Friday, July 25th. They now have a $12.00 price target on the stock, up previously from $10.00. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.29.
Flextronics International (NASDAQ:FLEX) traded up 0.54% on Tuesday, hitting $11.10. 3,471,817 shares of the company’s stock traded hands. Flextronics International has a one year low of $7.01 and a one year high of $11.49. The stock has a 50-day moving average of $10.77 and a 200-day moving average of $10.07. The company has a market cap of $6.529 billion and a price-to-earnings ratio of 13.97.
Flextronics International (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.03. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts expect that Flextronics International will post $1.00 EPS 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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