UBS Asset Management Americas Inc. decreased its stake in Flextronics International Ltd. (NASDAQ:FLEX) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,582,143 shares of the company’s stock after selling 158,697 shares during the period. UBS Asset Management Americas Inc. owned about 0.29% of Flextronics International worth $18,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors raised its position in Flextronics International by 0.4% in the second quarter. Nationwide Fund Advisors now owns 134,958 shares of the company’s stock valued at $1,593,000 after buying an additional 563 shares during the last quarter. Schroder Investment Management Group purchased a new position in Flextronics International during the second quarter valued at approximately $208,000. Ameriprise Financial Inc. raised its position in Flextronics International by 104.4% in the second quarter. Ameriprise Financial Inc. now owns 551,881 shares of the company’s stock valued at $6,512,000 after buying an additional 281,924 shares during the last quarter. Honeywell International Inc. purchased a new position in Flextronics International during the second quarter valued at approximately $14,455,000. Finally, GMT Capital Corp raised its position in Flextronics International by 13.6% in the second quarter. GMT Capital Corp now owns 8,236,800 shares of the company’s stock valued at $97,194,000 after buying an additional 986,200 shares during the last quarter. 91.54% of the stock is owned by institutional investors.

Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.23% during midday trading on Tuesday, reaching $13.10. The company had a trading volume of 4,247,558 shares. The stock has a market capitalization of $7.15 billion, a PE ratio of 16.58 and a beta of 0.97. The company’s 50 day moving average price is $12.86 and its 200 day moving average price is $12.43. Flextronics International Ltd. has a 52-week low of $8.85 and a 52-week high of $13.49.

Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, hitting the 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 expect that Flextronics International Ltd. will post $1.19 earnings per share for the current year.

Several research firms have commented on FLEX. Goldman Sachs Group Inc. raised shares of Flextronics International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $16.00 in a research note on Tuesday. B. Riley reiterated a “buy” rating and set a $14.50 target price on shares of Flextronics International in a research report on Tuesday, September 6th. Argus reiterated a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Flextronics International in a research report on Tuesday, July 26th. Raymond James Financial Inc. reiterated a “strong-buy” rating and set a $14.00 target price on shares of Flextronics International in a research report on Tuesday, July 26th. Finally, Zacks Investment Research downgraded Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Flextronics International has a consensus rating of “Buy” and an average price target of $13.92.

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

Flextronics International Company Profile

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