Flextronics International Ltd. (FLEX) Director Sells $159,570.00 in Stock
Flextronics International Ltd. (NASDAQ:FLEX) Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.73, for a total value of $159,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) opened at $17.84 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.70. Flextronics International Ltd. has a 12-month low of $14.22 and a 12-month high of $19.11. The firm has a market capitalization of $9,430.00, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.81.
Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. equities research analysts forecast that Flextronics International Ltd. will post 1.09 EPS for the current fiscal year.
Flextronics International declared that its Board of Directors has approved a share repurchase plan on Friday, August 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 65% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently issued reports on FLEX shares. BidaskClub cut Flextronics International from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Citigroup boosted their price objective on Flextronics International from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 27th. UBS boosted their price objective on Flextronics International from $18.00 to $19.75 and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 price objective on shares of Flextronics International in a research note on Friday, September 1st. Finally, Argus upped their price target on Flextronics International from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $19.53.
Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its holdings in shares of Flextronics International by 156.4% during the second quarter. Canada Pension Plan Investment Board now owns 55,901 shares of the technology company’s stock valued at $912,000 after acquiring an additional 34,102 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Flextronics International by 145.7% during the third quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock valued at $4,263,000 after acquiring an additional 152,600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Flextronics International by 15.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 150,148 shares of the technology company’s stock valued at $2,523,000 after acquiring an additional 20,376 shares in the last quarter. Investment House LLC raised its holdings in shares of Flextronics International by 14.1% during the third quarter. Investment House LLC now owns 269,400 shares of the technology company’s stock valued at $4,464,000 after acquiring an additional 33,375 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in shares of Flextronics International during the third quarter valued at approximately $579,000. Institutional investors own 95.40% of the company’s stock.
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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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