Flextronics International Ltd. (FLEX) Shares Sold by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale trimmed its holdings in Flextronics International Ltd. (NASDAQ:FLEX) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 332,437 shares of the technology company’s stock after selling 19,379 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Flextronics International worth $5,381,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Flextronics International by 20.9% during the 1st quarter. Geode Capital Management LLC now owns 315,771 shares of the technology company’s stock valued at $5,278,000 after buying an additional 54,486 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Flextronics International by 15.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 150,148 shares of the technology company’s stock valued at $2,523,000 after buying an additional 20,376 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of Flextronics International by 504.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 87,019 shares of the technology company’s stock valued at $1,419,000 after buying an additional 72,618 shares in the last quarter. Aperio Group LLC lifted its holdings in Flextronics International by 34.7% in the 2nd quarter. Aperio Group LLC now owns 83,807 shares of the technology company’s stock worth $1,367,000 after purchasing an additional 21,596 shares in the last quarter. Finally, Investment House LLC lifted its holdings in Flextronics International by 4.7% in the 2nd quarter. Investment House LLC now owns 236,025 shares of the technology company’s stock worth $3,850,000 after purchasing an additional 10,550 shares in the last quarter. Institutional investors own 97.46% of the company’s stock.
A number of research analysts recently commented on FLEX shares. Zacks Investment Research cut Flextronics International from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub cut Flextronics International from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. ValuEngine raised Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 price objective on shares of Flextronics International in a report on Friday, September 1st. Finally, Stifel Nicolaus boosted their target price on Flextronics International from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $19.53.
Shares of Flextronics International Ltd. (NASDAQ FLEX) opened at $18.57 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.01. Flextronics International Ltd. has a 12 month low of $13.97 and a 12 month high of $18.74. The company has a market capitalization of $9,813.72, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.82.
Flextronics International (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. equities research analysts predict that Flextronics International Ltd. will post 1.09 EPS for the current year.
Flextronics International announced that its Board of Directors has approved a stock repurchase plan on Friday, August 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 65% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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