Insider Selling: Flextronics International Ltd. (FLEX) Director Sells 20,000 Shares of Stock
Flextronics International Ltd. (NASDAQ:FLEX) Director H Raymond Bingham sold 20,000 shares of the business’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $14.51, for a total transaction of $290,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
H Raymond Bingham also recently made the following trade(s):
- On Thursday, September 1st, H Raymond Bingham sold 25,000 shares of Flextronics International stock. The shares were sold at an average price of $13.20, for a total transaction of $330,000.00.
Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.62% on Tuesday, hitting $14.54. 2,812,067 shares of the company’s stock traded hands. Flextronics International Ltd. has a one year low of $8.85 and a one year high of $15.09. The stock has a market cap of $7.85 billion, a PE ratio of 25.46 and a beta of 0.89. The stock has a 50-day moving average of $13.97 and a 200-day moving average of $13.11.
Flextronics International (NASDAQ:FLEX) last posted its earnings results on Thursday, October 27th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The company earned $6.01 billion during the quarter, compared to the consensus estimate of $6 billion. Flextronics International had a net margin of 1.28% and a return on equity of 22.09%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Flextronics International Ltd. will post $1.17 earnings per share for the current fiscal year.
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Several research firms have recently commented on FLEX. Goldman Sachs Group Inc. restated a “conviction-buy” rating and issued a $16.00 price objective on shares of Flextronics International in a research note on Wednesday, October 5th. Craig Hallum lowered Flextronics International from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Friday, October 28th. Zacks Investment Research upgraded Flextronics International from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, September 20th. Finally, B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Flextronics International in a research note on Tuesday, November 1st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.35.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Capital Management LLC increased its position in Flextronics International by 38.2% in the second quarter. Janus Capital Management LLC now owns 12,357,978 shares of the company’s stock worth $145,824,000 after buying an additional 3,415,540 shares in the last quarter. LSV Asset Management increased its position in Flextronics International by 11.7% in the second quarter. LSV Asset Management now owns 10,903,372 shares of the company’s stock worth $128,659,000 after buying an additional 1,138,692 shares in the last quarter. GMT Capital Corp increased its position in Flextronics International by 5.0% in the third quarter. GMT Capital Corp now owns 8,652,500 shares of the company’s stock worth $117,847,000 after buying an additional 415,700 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Flextronics International by 10.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,190,669 shares of the company’s stock worth $96,650,000 after buying an additional 777,341 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Flextronics International by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,425,209 shares of the company’s stock worth $87,621,000 after buying an additional 195,674 shares in the last quarter. Institutional investors own 80.34% 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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