Flextronics International Ltd. (NASDAQ:FLEX) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $16.00 price target on the stock, up from their prior price target of $13.00. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 18.96% from the company’s current price.

A number of other research firms have also weighed in on FLEX. B. Riley reissued a “buy” rating and set a $14.50 target price on shares of Flextronics International in a research report on Tuesday, September 6th. Argus reissued a “buy” rating and set a $16.00 target price (up previously from $15.00) on shares of Flextronics International in a research report on Tuesday, July 26th. Raymond James Financial Inc. reissued a “strong-buy” rating and set a $14.00 target price on shares of Flextronics International in a research report on Tuesday, July 26th. Standpoint Research lowered shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $14.00 price objective (up previously from $13.00) on shares of Flextronics International in a research report on Monday, May 23rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $14.09.

Shares of Flextronics International (NASDAQ:FLEX) opened at 13.45 on Tuesday. The stock’s 50 day moving average price is $12.91 and its 200-day moving average price is $12.45. The company has a market cap of $7.35 billion, a PE ratio of 17.03 and a beta of 0.97. Flextronics International has a 12-month low of $8.85 and a 12-month high of $13.49.

Flextronics International (NASDAQ:FLEX) last released its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. The firm earned $5.88 billion during the quarter, compared to analyst estimates of $5.71 billion. Flextronics International had a net margin of 1.77% and a return on equity of 22.68%. On average, equities research analysts forecast that Flextronics International will post $1.19 earnings per share for the current year.

In other Flextronics International news, CAO David P. Bennett sold 3,125 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $11.83, for a total transaction of $36,968.75. Following the sale, the chief accounting officer now directly owns 88,394 shares of the company’s stock, valued at $1,045,701.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David P. Bennett sold 6,250 shares of the company’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $11.89, for a total transaction of $74,312.50. Following the sale, the chief accounting officer now directly owns 88,394 shares in the company, valued at $1,051,004.66. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc purchased a new stake in shares of Flextronics International during the second quarter valued at $121,000. Gateway Investment Advisers LLC boosted its stake in shares of Flextronics International by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 10,778 shares of the company’s stock valued at $127,000 after buying an additional 778 shares in the last quarter. Hartford Investment Management Co. boosted its stake in shares of Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock valued at $137,000 after buying an additional 100 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of Flextronics International during the second quarter valued at $140,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Flextronics International during the second quarter valued at $158,000. 91.36% of the stock is currently owned by hedge funds and other institutional investors.

About Flextronics International

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