Schwab Charles Investment Management Inc. increased its stake in shares of Flextronics International Ltd. (NASDAQ:FLEX) by 15.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 150,148 shares of the technology company’s stock after buying an additional 20,376 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Flextronics International were worth $2,523,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FLEX. World Asset Management Inc boosted its position in Flextronics International by 0.5% in the first quarter. World Asset Management Inc now owns 33,814 shares of the technology company’s stock valued at $568,000 after buying an additional 184 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Flextronics International by 0.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 80,570 shares of the technology company’s stock valued at $1,354,000 after buying an additional 231 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Flextronics International by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,401 shares of the technology company’s stock valued at $226,000 after buying an additional 363 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Flextronics International by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after buying an additional 516 shares in the last quarter. Finally, Argent Capital Management LLC boosted its position in Flextronics International by 2.2% in the first quarter. Argent Capital Management LLC now owns 32,065 shares of the technology company’s stock valued at $539,000 after buying an additional 690 shares in the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.

Shares of Flextronics International Ltd. (FLEX) traded down 0.38% during trading on Wednesday, hitting $15.65. 789,397 shares of the stock traded hands. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 24.88 and a beta of 0.79. Flextronics International Ltd. has a 52-week low of $12.41 and a 52-week high of $17.76. The stock has a 50 day moving average of $16.31 and a 200 day moving average of $16.40.

Flextronics International (NASDAQ:FLEX) last announced its earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $0.27 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Analysts expect that Flextronics International Ltd. will post $1.09 EPS for the current year.

Flextronics International announced that its board has approved a stock repurchase plan on Friday, August 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 65% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several equities analysts have issued reports on the stock. Macquarie assumed coverage on shares of Flextronics International in a research note on Thursday, June 22nd. They set a “neutral” rating on the stock. Bank of America Corporation restated a “buy” rating and set a $19.50 target price (up previously from $17.50) on shares of Flextronics International in a research note on Wednesday, May 17th. Zacks Investment Research cut shares of Flextronics International from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $21.00 target price on shares of Flextronics International in a research note on Friday, June 16th. Finally, Needham & Company LLC increased their price objective on shares of Flextronics International from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $17.75.

In other Flextronics International news, CFO Christopher Collier sold 15,739 shares of Flextronics International stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $15.93, for a total value of $250,722.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 972,124 shares of company stock worth $15,872,864 over the last quarter. Company insiders own 0.83% of the company’s stock.

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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Institutional Ownership by Quarter for Flextronics International (NASDAQ:FLEX)

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