Flextronics International Ltd. (FLEX) Shares Sold by Genesee Valley Trust Co.
Genesee Valley Trust Co. lowered its stake in Flextronics International Ltd. (NASDAQ:FLEX) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,181 shares of the company’s stock after selling 7,020 shares during the period. Genesee Valley Trust Co.’s holdings in Flextronics International were worth $663,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLEX. Primecap Management Co. CA boosted its stake in shares of Flextronics International by 4.9% in the first quarter. Primecap Management Co. CA now owns 51,084,332 shares of the company’s stock worth $616,077,000 after buying an additional 2,377,527 shares during the period. Investec Asset Management LTD purchased a new stake in shares of Flextronics International during the first quarter worth about $67,983,000. Norges Bank purchased a new stake in shares of Flextronics International during the fourth quarter worth about $62,157,000. BlackRock Group LTD boosted its stake in shares of Flextronics International by 2.7% in the first quarter. BlackRock Group LTD now owns 4,892,921 shares of the company’s stock worth $59,007,000 after buying an additional 129,281 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of Flextronics International by 3.8% in the first quarter. Panagora Asset Management Inc. now owns 2,872,654 shares of the company’s stock worth $34,644,000 after buying an additional 105,162 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.46% during trading on Tuesday, hitting $13.13. The stock had a trading volume of 5,718,089 shares. Flextronics International Ltd. has a one year low of $8.85 and a one year high of $13.49. The firm has a market cap of $7.17 billion, a P/E ratio of 16.62 and a beta of 0.97. The firm’s 50-day moving average is $12.86 and its 200-day moving average is $12.43.
Flextronics International (NASDAQ:FLEX) last announced its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. Flextronics International had a return on equity of 22.68% and a net margin of 1.77%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.71 billion. Equities research analysts forecast that Flextronics International Ltd. will post $1.19 EPS for the current year.
A number of brokerages recently issued reports on FLEX. B. Riley reissued a “buy” rating and issued a $14.50 target price on shares of Flextronics International in a research report on Monday, July 25th. Standpoint Research cut Flextronics International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Argus reissued a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Flextronics International in a research report on Tuesday, July 26th. Zacks Investment Research raised Flextronics International from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, June 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of Flextronics International in a research report on Monday, May 23rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $13.92.
In related news, CAO David P. Bennett sold 6,250 shares of Flextronics International stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $11.89, for a total value of $74,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 88,394 shares in the company, valued at $1,051,004.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 8,000 shares of Flextronics International stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.35, for a total value of $98,800.00. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.
About Flextronics International
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