Flextronics International Sets New 1-Year High at $11.82 (FLEX)
Shares of Flextronics International (NASDAQ:FLEX) hit a new 52-week high during trading on Wednesday , American Banking News.com reports. The stock traded as high as $11.82 and last traded at $11.54, with a volume of 8,815,810 shares changing hands. The stock had previously closed at $11.10.
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 equities 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $11.29.
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 $6.755 billion and a P/E ratio of 14.05.
Flextronics International (NASDAQ:FLEX) last announced its 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. On average, analysts predict that Flextronics International will post $1.00 earnings per share for the current fiscal year.
In other Flextronics International news, Director Lay Koon Tan unloaded 3,634 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $10.82, for a total value of $39,319.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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