Flextronics International Ltd. (NASDAQ:FLEX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $15.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 14.24% from the stock’s previous close.

According to Zacks, “Flextronic International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking, consumer electronics and computer industries. The company’s strategy is to provide customers with the ability to outsource, on a global basis, a complete product wherethe company’s take responsibility for engineering, supply chain management, assembly, integration, test and logistics management. The company provides complete product design services, including electrical and mechanical, circuit and layout. “

FLEX has been the subject of several other reports. B. Riley reiterated a “buy” rating and set a $14.50 target price on shares of Flextronics International in a research note on Tuesday, September 6th. Standpoint Research cut shares of Flextronics International from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of Flextronics International in a research note on Monday, May 23rd. Raymond James Financial Inc. reiterated a “strong-buy” rating and set a $14.00 target price on shares of Flextronics International in a research note on Monday, July 11th. Finally, Goldman Sachs Group Inc. upgraded shares of Flextronics International from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $16.00 in a research note on Tuesday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $14.09.

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Shares of Flextronics International (NASDAQ:FLEX) traded up 0.46% during mid-day trading on Tuesday, reaching $13.13. 5,718,089 shares of the company traded hands. The stock has a market capitalization of $7.17 billion, a PE ratio of 16.62 and a beta of 0.97. The stock’s 50 day moving average is $12.88 and its 200 day moving average is $12.44. Flextronics International has a 52-week low of $8.85 and a 52-week high of $13.49.

Flextronics International (NASDAQ:FLEX) last released its earnings results on Thursday, July 21st. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm earned $5.88 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Flextronics International had a net margin of 1.77% and a return on equity of 22.68%. On average, analysts anticipate that Flextronics International will post $1.19 earnings per share for the current year.

In other news, CAO David P. Bennett sold 3,125 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $11.83, for a total value of $36,968.75. Following the sale, the chief accounting officer now owns 88,394 shares of the company’s stock, valued at approximately $1,045,701.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director H Raymond Bingham sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $13.20, for a total transaction of $330,000.00. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Hartford Investment Management Co. raised its stake in Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock valued at $137,000 after buying an additional 100 shares during the last quarter. Point View Wealth Management Inc. raised its stake in Flextronics International by 1.1% in the second quarter. Point View Wealth Management Inc. now owns 31,032 shares of the company’s stock valued at $366,000 after buying an additional 339 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Flextronics International by 1.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 29,236 shares of the company’s stock valued at $353,000 after buying an additional 400 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Flextronics International by 1.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 40,237 shares of the company’s stock valued at $474,000 after buying an additional 461 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Flextronics International by 0.4% in the second quarter. Nationwide Fund Advisors now owns 134,958 shares of the company’s stock valued at $1,593,000 after buying an additional 563 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Flextronics International Company Profile

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