David P. Bennett Sells 6,250 Shares of Flextronics International Ltd. (FLEX) Stock
Flextronics International Ltd. (NASDAQ:FLEX) insider David P. Bennett sold 6,250 shares of Flextronics International stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $16.75, for a total value of $104,687.50. Following the completion of the transaction, the insider now owns 45,251 shares in the company, valued at $757,954.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded down 1.80% on Thursday, hitting $16.34. The stock had a trading volume of 5,591,354 shares. The company has a market capitalization of $8.66 billion, a P/E ratio of 27.69 and a beta of 0.75. Flextronics International Ltd. has a one year low of $11.51 and a one year high of $17.76. The firm has a 50 day moving average price of $16.84 and a 200 day moving average price of $16.00.
Flextronics International (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, April 27th. The technology company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. Flextronics International had a net margin of 1.34% and a return on equity of 21.19%. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Flextronics International Ltd. will post $1.20 earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on FLEX shares. Zacks Investment Research cut Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Citigroup Inc. set a $18.00 target price on Flextronics International and gave the stock a “buy” rating in a report on Monday, March 20th. Deutsche Bank AG restated a “hold” rating and issued a $16.00 target price (up from $15.00) on shares of Flextronics International in a report on Saturday, April 29th. ValuEngine upgraded Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Craig Hallum upgraded Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.13.
Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Flextronics International by 26.1% in the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock worth $100,000 after buying an additional 1,234 shares during the period. Keybank National Association OH purchased a new position in Flextronics International during the first quarter worth about $199,000. Cambridge Investment Research Advisors Inc. boosted its position in Flextronics International by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock worth $203,000 after buying an additional 516 shares during the period. FNY Partners Fund LP purchased a new position in Flextronics International during the first quarter worth about $214,000. Finally, Ronald Blue & Co. LLC boosted its position in Flextronics International by 8.8% in the first quarter. Ronald Blue & Co. LLC now owns 13,062 shares of the technology company’s stock worth $219,000 after buying an additional 1,059 shares during the period. Hedge funds and other institutional investors own 91.16% 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).
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