Lay Koon Tan Sells 2,728 Shares of Flextronics International Ltd. (FLEX) Stock
Flextronics International Ltd. (NASDAQ:FLEX) Director Lay Koon Tan sold 2,728 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total transaction of $43,457.04. Following the completion of the transaction, the director now owns 114,394 shares in the company, valued at $1,822,296.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Flextronics International Ltd. (FLEX) traded down 1.68% during trading on Thursday, hitting $15.81. 5,614,947 shares of the stock were exchanged. The firm has a market capitalization of $8.42 billion, a P/E ratio of 25.14 and a beta of 0.79. The firm has a 50 day moving average price of $16.36 and a 200 day moving average price of $16.40. Flextronics International Ltd. has a 52 week low of $12.41 and a 52 week high of $17.76.
Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.91 billion. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. Analysts forecast that Flextronics International Ltd. will post $1.09 EPS for the current fiscal year.
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FLEX has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Bank of America Corporation restated a “buy” rating and issued a $19.50 price target (up from $17.50) on shares of Flextronics International in a research report on Wednesday, May 17th. Craig Hallum upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Needham & Company LLC boosted their price target on shares of Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $21.00 price target on shares of Flextronics International in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Flextronics International has a consensus rating of “Buy” and an average price target of $17.75.
Several large investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Flextronics International by 9.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 144,563 shares of the technology company’s stock valued at $2,357,000 after buying an additional 12,900 shares during the period. South Street Advisors LLC bought a new stake in shares of Flextronics International during the second quarter valued at about $3,277,000. Captrust Financial Advisors bought a new stake in shares of Flextronics International during the second quarter valued at about $171,000. Raymond James Trust N.A. raised its stake in shares of Flextronics International by 2.3% in the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after buying an additional 309 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of Flextronics International by 2.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 4,575,365 shares of the technology company’s stock valued at $74,624,000 after buying an additional 126,700 shares during the period. 92.54% of the stock is currently owned by institutional investors.
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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