Flextronics International Ltd. (FLEX) Insider David P. Bennett Sells 7,500 Shares
Flextronics International Ltd. (NASDAQ:FLEX) insider David P. Bennett sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $14.52, for a total transaction of $108,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.62% during midday trading on Tuesday, reaching $14.54. 2,812,067 shares of the company were exchanged. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 25.46 and a beta of 0.89. Flextronics International Ltd. has a 52-week low of $8.85 and a 52-week high of $15.09. The firm’s 50-day moving average price is $13.97 and its 200 day moving average price is $13.11.
Flextronics International (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. Flextronics International had a return on equity of 22.09% and a net margin of 1.28%. The firm earned $6.01 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the business earned $0.27 EPS. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts predict that Flextronics International Ltd. will post $1.17 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc bought a new stake in Flextronics International during the second quarter worth $121,000. Gateway Investment Advisers LLC raised its stake in Flextronics International by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 10,778 shares of the company’s stock worth $127,000 after buying an additional 778 shares during the period. Hartford Investment Management Co. raised its stake in Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the period. Advisor Group Inc. bought a new stake in Flextronics International during the second quarter worth $140,000. Finally, Fox Run Management L.L.C. bought a new stake in Flextronics International during the second quarter worth $158,000. Hedge funds and other institutional investors own 80.34% of the company’s stock.
Several brokerages recently commented on FLEX. B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of Flextronics International in a research note on Tuesday, November 1st. Zacks Investment Research upgraded shares of Flextronics International from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Craig Hallum cut shares of Flextronics International from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Friday, October 28th. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $16.00 target price on shares of Flextronics International in a research report on Wednesday, October 5th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.35.
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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