Flextronics International Ltd. (NASDAQ:FLEX) had its price target raised by Argus from $20.00 to $23.00 in a research note released on Wednesday morning. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts have also weighed in on the company. ValuEngine raised Flextronics International from a hold rating to a buy rating in a research note on Friday, September 1st. Needham & Company LLC lifted their price objective on Flextronics International from $17.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Flextronics International from a sell rating to a hold rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a buy rating and issued a $19.00 price objective on shares of Flextronics International in a research note on Friday, October 13th. Finally, BidaskClub lowered Flextronics International from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $19.53.

Shares of Flextronics International (NASDAQ:FLEX) traded up $0.24 during trading hours on Wednesday, hitting $18.27. 3,706,733 shares of the stock traded hands, compared to its average volume of 3,919,989. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.73. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.99 and a beta of 0.82.

Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.09 billion. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. research analysts predict that Flextronics International will post 1.09 earnings per share for the current year.

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Flextronics International announced that its board has initiated a stock repurchase program on Friday, August 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 65% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Flextronics International news, Director Lay Koon Tan sold 2,728 shares of Flextronics International stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.93, for a total transaction of $43,457.04. Following the sale, the director now directly owns 114,394 shares in the company, valued at approximately $1,822,296.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors purchased a new stake in Flextronics International during the 2nd quarter worth approximately $171,000. Airain ltd purchased a new stake in Flextronics International during the 2nd quarter worth approximately $203,000. Raymond James Trust N.A. increased its holdings in Flextronics International by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after purchasing an additional 309 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Flextronics International during the 1st quarter worth approximately $348,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Flextronics International during the 1st quarter worth approximately $348,000. Institutional investors own 94.50% of the company’s stock.

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).

Analyst Recommendations for Flextronics International (NASDAQ:FLEX)

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