Flextronics International Ltd. (NASDAQ:FLEX) had its price objective increased by equities research analysts at Needham & Company LLC from $17.00 to $19.00 in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 12.96% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Macquarie began coverage on shares of Flextronics International in a report on Thursday, June 22nd. They issued a “neutral” rating on the stock. ValuEngine cut shares of Flextronics International from a “buy” rating to a “hold” rating in a report on Friday. Bank of America Corporation reaffirmed a “buy” rating and issued a $19.50 target price (up previously from $17.50) on shares of Flextronics International in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of Flextronics International in a report on Friday, June 16th. Finally, BidaskClub cut shares of Flextronics International from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $17.29.

Flextronics International (NASDAQ:FLEX) opened at 16.82 on Tuesday. The stock has a market cap of $8.91 billion, a P/E ratio of 28.51 and a beta of 0.80. The stock has a 50 day moving average of $16.84 and a 200-day moving average of $16.00. Flextronics International has a 12 month low of $12.12 and a 12 month high of $17.76.

Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, April 27th. The technology company reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Flextronics International had a net margin of 1.34% and a return on equity of 21.19%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share. On average, equities analysts forecast that Flextronics International will post $1.20 EPS for the current fiscal year.

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In other news, Director William D. Watkins sold 30,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher Collier sold 15,739 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $15.93, for a total transaction of $250,722.27. The disclosure for this sale can be found here. Insiders sold 1,132,359 shares of company stock worth $18,530,992 over the last quarter. 0.83% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Flextronics International by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 191,600 shares of the technology company’s stock worth $2,753,000 after buying an additional 8,000 shares during the period. Fulton Bank N.A. raised its position in shares of Flextronics International by 4.2% in the first quarter. Fulton Bank N.A. now owns 13,165 shares of the technology company’s stock worth $221,000 after buying an additional 528 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Flextronics International by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 180,426 shares of the technology company’s stock worth $3,031,000 after buying an additional 2,900 shares during the period. Private Capital Advisors Inc. acquired a new position in shares of Flextronics International during the first quarter worth about $2,216,000. Finally, Daiwa SB Investments Ltd. raised its position in shares of Flextronics International by 2.0% in the first quarter. Daiwa SB Investments Ltd. now owns 51,380 shares of the technology company’s stock worth $863,000 after buying an additional 990 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.

About Flextronics International

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).

Analyst Recommendations for Flextronics International (NASDAQ:FLEX)

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