Flextronics International Ltd. (FLEX) Holdings Lifted by IFP Advisors Inc
IFP Advisors Inc grew its stake in Flextronics International Ltd. (NASDAQ:FLEX) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,978 shares of the technology company’s stock after purchasing an additional 3,353 shares during the quarter. IFP Advisors Inc’s holdings in Flextronics International were worth $464,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. grew its position in shares of Flextronics International by 2.3% in the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after purchasing an additional 309 shares during the period. Creative Planning grew its position in shares of Flextronics International by 0.5% in the second quarter. Creative Planning now owns 144,326 shares of the technology company’s stock valued at $2,354,000 after purchasing an additional 746 shares during the period. Graybill Bartz & Assoc Ltd. grew its position in shares of Flextronics International by 1.6% in the second quarter. Graybill Bartz & Assoc Ltd. now owns 178,129 shares of the technology company’s stock valued at $2,905,000 after purchasing an additional 2,850 shares during the period. PGGM Investments grew its position in shares of Flextronics International by 0.3% in the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock valued at $36,197,000 after purchasing an additional 7,337 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Flextronics International in the second quarter valued at about $171,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
Flextronics International Ltd. (NASDAQ:FLEX) opened at $18.27 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.70 and a current ratio of 1.23. The company has a market capitalization of $9,655.18, a P/E ratio of 15.89, a PEG ratio of 1.00 and a beta of 0.82.
Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, October 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Flextronics International had a net margin of 2.25% and a return on equity of 22.71%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. Flextronics International’s quarterly revenue was up 4.3% compared to the same quarter last year. analysts predict that Flextronics International Ltd. will post 1.09 EPS for the current fiscal year.
Flextronics International announced that its board has initiated a share repurchase plan on Friday, August 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 65% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Several brokerages have recently issued reports on FLEX. UBS AG lifted their target price on shares of Flextronics International from $18.00 to $19.75 and gave the company a “buy” rating in a research report on Friday, October 27th. Argus lifted their target price on shares of Flextronics International from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Citigroup Inc. lifted their target price on shares of Flextronics International from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus boosted their price target on shares of Flextronics International from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Flextronics International presently has an average rating of “Buy” and an average price target of $19.53.
In other Flextronics International news, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total transaction of $43,457.04. Following the transaction, the director now directly owns 114,394 shares of the company’s stock, valued at $1,822,296.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by insiders.
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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