Flextronics International Ltd. (NASDAQ:FLEX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other equities analysts have also issued research reports about the company. ValuEngine raised Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Bank of America Corp reissued a “buy” rating and set a $19.50 price target (up previously from $17.50) on shares of Flextronics International in a report on Wednesday, May 17th. Craig Hallum raised Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Zacks Investment Research raised Flextronics International from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, March 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price target on shares of Flextronics International in a report on Tuesday, March 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Flextronics International has a consensus rating of “Buy” and an average target price of $17.21.

Analyst Recommendations for Flextronics International (NASDAQ:FLEX)

Flextronics International (NASDAQ FLEX) traded down 0.24% during midday trading on Wednesday, hitting $16.67. The stock had a trading volume of 2,946,140 shares. The company’s 50 day moving average price is $16.43 and its 200-day moving average price is $15.83. Flextronics International has a 52-week low of $11.51 and a 52-week high of $17.76. The stock has a market cap of $8.83 billion, a PE ratio of 28.25 and a beta of 0.75.

Flextronics International (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. Flextronics International had a return on equity of 21.19% and a net margin of 1.34%. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the company posted $0.29 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Analysts forecast that Flextronics International will post $1.22 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Flextronics International Ltd. (FLEX) Cut to “Sell” at BidaskClub” was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/06/14/flextronics-international-ltd-flex-cut-to-sell-at-bidaskclub.html.

In other news, Director William D. Watkins sold 30,000 shares of Flextronics International stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $15.11, for a total transaction of $453,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Humphries sold 43,750 shares of Flextronics International stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $16.77, for a total transaction of $733,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,377 shares of company stock valued at $4,694,148. Insiders own 0.94% of the company’s stock.

Several large investors have recently bought and sold shares of FLEX. BlackRock Inc. increased its stake in Flextronics International by 899.5% in the first quarter. BlackRock Inc. now owns 24,233,981 shares of the technology company’s stock worth $407,131,000 after buying an additional 21,809,363 shares during the last quarter. Norges Bank bought a new stake in Flextronics International during the fourth quarter worth about $82,125,000. Wellington Management Group LLP increased its stake in Flextronics International by 48.0% in the first quarter. Wellington Management Group LLP now owns 14,453,585 shares of the technology company’s stock worth $242,819,000 after buying an additional 4,688,140 shares during the last quarter. Henderson Group PLC increased its stake in Flextronics International by 3,536.4% in the first quarter. Henderson Group PLC now owns 3,559,008 shares of the technology company’s stock worth $59,845,000 after buying an additional 3,461,137 shares during the last quarter. Finally, Boston Partners increased its stake in Flextronics International by 4.1% in the first quarter. Boston Partners now owns 50,704,514 shares of the technology company’s stock worth $851,835,000 after buying an additional 2,017,065 shares during the last quarter. Institutional investors own 91.47% of the company’s stock.

Flextronics International Company Profile

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

Receive News & Ratings for Flextronics International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flextronics International Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.