Flextronics International Ltd. (NASDAQ:FLEX) was upgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a report issued on Wednesday.

A number of other research analysts have also issued reports on FLEX. Zacks Investment Research lowered Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. B. Riley restated a “buy” rating and issued a $14.50 price objective on shares of Flextronics International in a report on Tuesday, September 6th. Argus restated a “buy” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Flextronics International in a report on Tuesday, July 26th. Finally, Raymond James Financial Inc. restated a “strong-buy” rating and issued a $14.00 price objective on shares of Flextronics International in a report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Flextronics International has a consensus rating of “Buy” and a consensus target price of $14.09.

Flextronics International (NASDAQ:FLEX) opened at 13.62 on Wednesday. Flextronics International has a 52-week low of $8.85 and a 52-week high of $13.81. The company has a market cap of $7.44 billion, a PE ratio of 17.24 and a beta of 1.02. The firm’s 50-day moving average is $13.14 and its 200-day moving average is $12.59.

Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Flextronics International had a net margin of 1.77% and a return on equity of 22.68%. On average, equities research analysts anticipate that Flextronics International will post $1.19 EPS for the current year.

In other Flextronics International news, Director Lay Koon Tan sold 3,292 shares of Flextronics International stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $12.79, for a total value of $42,104.68. Following the completion of the transaction, the director now directly owns 117,494 shares of the company’s stock, valued at approximately $1,502,748.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Watkins sold 8,000 shares of Flextronics International stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.35, for a total value of $98,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. increased its position in Flextronics International by 3.8% in the first quarter. Panagora Asset Management Inc. now owns 2,872,654 shares of the company’s stock valued at $34,644,000 after buying an additional 105,162 shares in the last quarter. PGGM Investments increased its position in Flextronics International by 17.8% in the second quarter. PGGM Investments now owns 2,899,880 shares of the company’s stock valued at $34,219,000 after buying an additional 437,525 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Flextronics International during the second quarter valued at $158,000. BlackRock Group LTD increased its position in Flextronics International by 2.7% in the first quarter. BlackRock Group LTD now owns 4,892,921 shares of the company’s stock valued at $59,007,000 after buying an additional 129,281 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Flextronics International by 598.5% in the first quarter. JPMorgan Chase & Co. now owns 2,699,936 shares of the company’s stock valued at $32,561,000 after buying an additional 2,313,386 shares in the last quarter. 91.36% of the stock is owned by institutional investors.

About Flextronics International

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