Flextronics International Ltd. (FLEX) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC increased its position in shares of Flextronics International Ltd. (NASDAQ:FLEX) by 276.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,663,774 shares of the company’s stock after buying an additional 1,956,722 shares during the period. BlackRock Advisors LLC owned 0.49% of Flextronics International worth $31,433,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in FLEX. Nomura Asset Management Co. Ltd. increased its position in Flextronics International by 0.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 100,700 shares of the company’s stock worth $1,129,000 after buying an additional 800 shares during the period. Norges Bank acquired a new position in Flextronics International during the fourth quarter worth approximately $62,157,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Flextronics International by 6.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 173,102 shares of the company’s stock worth $2,088,000 after buying an additional 11,068 shares during the period. OLD National Bancorp IN increased its position in Flextronics International by 28.7% in the first quarter. OLD National Bancorp IN now owns 46,310 shares of the company’s stock worth $558,000 after buying an additional 10,318 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Flextronics International by 0.6% in the first quarter. Glenmede Trust Co. NA now owns 133,564 shares of the company’s stock worth $1,610,000 after buying an additional 854 shares during the period. Institutional investors own 91.36% of the company’s stock.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) opened at 13.45 on Thursday. The firm’s 50-day moving average is $12.91 and its 200 day moving average is $12.45. The firm has a market capitalization of $7.35 billion, a PE ratio of 17.03 and a beta of 0.97. 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 quarterly earnings results on Thursday, July 21st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Flextronics International had a net margin of 1.77% and a return on equity of 22.68%. On average, equities analysts forecast that Flextronics International Ltd. will post $1.19 earnings per share for the current year.
A number of research analysts have commented on FLEX shares. Zacks Investment Research downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Argus reissued a “buy” rating and set a $16.00 target price (up previously from $15.00) on shares of Flextronics International in a research report on Tuesday, July 26th. B. Riley reaffirmed a “buy” rating and issued a $14.50 price objective on shares of Flextronics International in a research report on Monday, July 25th. 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 report on Tuesday. Finally, Raymond James Financial Inc. reaffirmed a “strong-buy” rating and issued a $14.00 price objective on shares of Flextronics International in a research report on Tuesday, July 26th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.09.
In related news, CAO David P. Bennett sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.83, for a total value of $36,968.75. Following the sale, the chief accounting officer now owns 88,394 shares of the company’s stock, valued at $1,045,701.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David P. Bennett sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $11.89, for a total transaction of $74,312.50. Following the completion of 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. 0.94% of the stock is currently owned by corporate insiders.
Flextronics International Company Profile
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