10,487 Shares in Flextronics International Ltd. (FLEX) Purchased by Captrust Financial Advisors
Captrust Financial Advisors purchased a new position in shares of Flextronics International Ltd. (NASDAQ:FLEX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,487 shares of the technology company’s stock, valued at approximately $171,000.
A number of other large investors have also recently added to or reduced their stakes in FLEX. Toronto Dominion Bank lifted its stake in Flextronics International by 26.1% during the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock worth $100,000 after purchasing an additional 1,234 shares in the last quarter. Keybank National Association OH acquired a new position in Flextronics International during the first quarter worth $199,000. Cambridge Investment Research Advisors Inc. lifted its stake in Flextronics International by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock worth $203,000 after purchasing an additional 516 shares in the last quarter. Airain ltd acquired a new position in Flextronics International during the second quarter worth $203,000. Finally, FNY Partners Fund LP acquired a new position in Flextronics International during the first quarter worth $214,000. Institutional investors own 94.98% of the company’s stock.
A number of research analysts have commented on FLEX shares. ValuEngine upgraded Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Flextronics International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut Flextronics International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $19.00 price target on shares of Flextronics International in a research note on Friday, September 1st. Finally, Needham & Company LLC upped their price target on Flextronics International from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Flextronics International presently has an average rating of “Buy” and a consensus target price of $17.55.
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In related news, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total transaction of $43,457.04. Following the transaction, the director now owns 114,394 shares in the company, valued at approximately $1,822,296.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Bennett sold 6,250 shares of Flextronics International stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $17.02, for a total transaction of $106,375.00. Following the transaction, the insider now owns 54,299 shares in the company, valued at approximately $924,168.98. The disclosure for this sale can be found here. Insiders have sold a total of 778,619 shares of company stock worth $12,676,488 in the last 90 days. Company insiders own 0.83% of the company’s stock.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) opened at 16.69 on Friday. The stock’s 50 day moving average price is $16.09 and its 200-day moving average price is $16.41. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 26.53 and a beta of 0.79. Flextronics International Ltd. has a 52-week low of $12.97 and a 52-week high of $17.76.
Flextronics International (NASDAQ:FLEX) last posted its earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. On average, analysts predict that Flextronics International Ltd. will post $1.09 earnings per share for the current fiscal year.
Flextronics International announced that its board has initiated a stock buyback program on Friday, August 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 65% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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