Flextronics International Ltd. (FLEX) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Flextronics International Ltd. (NASDAQ:FLEX) have been assigned an average rating of “Buy” from the fifteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $17.35.
Several analysts have weighed in on FLEX shares. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price objective on shares of Flextronics International in a report on Tuesday, March 28th. Zacks Investment Research upgraded Flextronics International from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, March 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $16.00 price objective (up from $15.00) on shares of Flextronics International in a research report on Saturday, April 29th. Craig Hallum upgraded Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $19.50 price objective (up from $17.50) on shares of Flextronics International in a research report on Wednesday, May 17th.
Flextronics International (NASDAQ:FLEX) traded down 0.030% on Friday, reaching $16.805. 1,333,766 shares of the company’s stock were exchanged. Flextronics International has a 12 month low of $12.12 and a 12 month high of $17.76. The stock has a market capitalization of $8.91 billion, a PE ratio of 28.483 and a beta of 0.80. The firm has a 50 day moving average of $16.79 and a 200 day moving average of $16.20.
Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, April 27th. The technology company reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. Flextronics International had a net margin of 1.34% and a return on equity of 21.19%. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts predict that Flextronics International will post $1.21 earnings per share for the current fiscal year.
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In other news, CAO David P. Bennett sold 5,656 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $16.61, for a total transaction of $93,946.16. Following the sale, the chief accounting officer now owns 62,974 shares in the company, valued at approximately $1,045,998.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William D. Watkins sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $15.11, for a total value of $453,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,132,359 shares of company stock worth $18,530,992. Company insiders own 0.83% of the company’s stock.
Several large investors have recently made changes to their positions in FLEX. Americafirst Capital Management LLC bought a new stake in shares of Flextronics International during the first quarter worth about $522,000. Keybank National Association OH bought a new stake in shares of Flextronics International during the first quarter worth about $199,000. Toronto Dominion Bank boosted its stake in shares of 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 in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Flextronics International during the first quarter worth about $902,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Flextronics International by 12.1% in the first quarter. Parametric Portfolio Associates LLC now owns 663,409 shares of the technology company’s stock worth $11,145,000 after buying an additional 71,485 shares in the last quarter. Institutional investors 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).
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