Flextronics International’s (FLEX) Conviction-Buy Rating Reaffirmed at Goldman Sachs Group Inc.
Flextronics International Ltd. (NASDAQ:FLEX)‘s stock had its “conviction-buy” rating reiterated by stock analysts at Goldman Sachs Group Inc. in a research note issued on Wednesday. They currently have a $16.00 price objective on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 13.48% from the company’s previous close.
FLEX has been the topic of a number of other reports. Zacks Investment Research lowered Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Raymond James Financial Inc. reaffirmed a “strong-buy” rating and issued a $14.00 price objective on shares of Flextronics International in a report on Monday, July 11th. Argus reaffirmed a “buy” rating and issued a $16.00 price objective (up from $15.00) on shares of Flextronics International in a report on Tuesday, July 26th. Finally, B. Riley reiterated a “buy” rating and set a $14.50 target price on shares of Flextronics International in a research report on Tuesday, September 6th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Flextronics International presently has a consensus rating of “Buy” and a consensus price target of $14.09.
Flextronics International (NASDAQ:FLEX) traded down 0.07% during midday trading on Wednesday, hitting $14.10. The stock had a trading volume of 2,339,050 shares. Flextronics International has a 52 week low of $8.85 and a 52 week high of $14.20. The company’s 50-day moving average price is $13.25 and its 200 day moving average price is $12.63. The company has a market capitalization of $7.70 billion, a PE ratio of 17.85 and a beta of 1.02.
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Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Flextronics International had a return on equity of 22.68% and a net margin of 1.77%. The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.71 billion. On average, analysts expect that Flextronics International will post $1.19 EPS for the current year.
In other Flextronics International news, 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 value of $330,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Watkins sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.35, for a total value of $98,800.00. The disclosure for this sale can be found here. 0.94% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of FLEX. Hartford Investment Management Co. boosted its position in shares of Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the last quarter. Point View Wealth Management Inc. boosted its position in shares of Flextronics International by 1.1% in the second quarter. Point View Wealth Management Inc. now owns 31,032 shares of the company’s stock worth $366,000 after buying an additional 339 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. 91.36% of the stock is owned by institutional investors and hedge funds.
Flextronics International Company Profile
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