Flextronics International Ltd. (NASDAQ:FLEX)‘s stock had its “buy” rating reissued by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $19.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 14.91% from the company’s previous close.

Several other analysts have also issued reports on the stock. ValuEngine raised shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research lowered shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of Flextronics International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Craig Hallum raised shares of Flextronics International from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Finally, Macquarie assumed coverage on shares of Flextronics International in a research report on Thursday, June 22nd. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Flextronics International presently has a consensus rating of “Buy” and an average target price of $17.55.

Shares of Flextronics International (FLEX) opened at 16.54 on Friday. The company’s 50-day moving average is $16.22 and its 200 day moving average is $16.41. Flextronics International has a 1-year low of $12.41 and a 1-year high of $17.76. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 26.30 and a beta of 0.79.

Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.91 billion. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, analysts expect that Flextronics International will post $1.09 EPS for the current fiscal year.

Flextronics International declared that its board has approved a stock buyback plan on Friday, August 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 65% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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In related news, Director Lay Koon Tan sold 2,728 shares of the company’s 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 completion of the sale, the director now owns 114,394 shares of the company’s stock, valued at $1,822,296.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francois Barbier sold 25,279 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $16.64, for a total transaction of $420,642.56. The disclosure for this sale can be found here. Insiders sold 972,124 shares of company stock worth $15,872,864 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of FLEX. Janus Capital Management LLC boosted its stake in Flextronics International by 1.3% in the first quarter. Janus Capital Management LLC now owns 28,581,585 shares of the technology company’s stock valued at $480,167,000 after buying an additional 359,493 shares in the last quarter. BlackRock Inc. boosted its stake in Flextronics International by 899.5% in the first quarter. BlackRock Inc. now owns 24,233,981 shares of the technology company’s stock valued at $407,131,000 after buying an additional 21,809,363 shares in the last quarter. Wellington Management Group LLP boosted its stake in Flextronics International by 48.0% in the first quarter. Wellington Management Group LLP now owns 14,453,585 shares of the technology company’s stock valued at $242,819,000 after buying an additional 4,688,140 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Flextronics International by 17.1% in the first quarter. Victory Capital Management Inc. now owns 10,956,803 shares of the technology company’s stock valued at $184,074,000 after buying an additional 1,601,580 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Flextronics International by 0.6% in the first quarter. AQR Capital Management LLC now owns 10,809,302 shares of the technology company’s stock valued at $181,596,000 after buying an additional 63,800 shares in the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

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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