Goldman Sachs Group Inc. upgraded shares of Flextronics International Ltd. (NASDAQ:FLEX) from a neutral rating to a buy rating in a research note released on Tuesday morning. Goldman Sachs Group Inc. currently has $16.00 price objective on the stock, up from their prior price objective of $13.00.

Several other equities research analysts have also commented on FLEX. Raymond James Financial Inc. reiterated a strong-buy rating and issued a $14.00 price objective on shares of Flextronics International in a research report on Monday, July 11th. Royal Bank Of Canada reiterated an outperform rating and issued a $14.00 price objective (up from $13.00) on shares of Flextronics International in a research report on Monday, May 23rd. Zacks Investment Research lowered shares of Flextronics International from a buy rating to a hold rating in a research report on Wednesday, June 29th. Argus reiterated a buy rating and issued a $16.00 price objective (up from $15.00) on shares of Flextronics International in a research report on Tuesday, July 26th. Finally, Standpoint Research lowered shares of Flextronics International from a buy rating to a hold rating in a research report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $14.09.

Shares of Flextronics International (NASDAQ:FLEX) opened at 13.62 on Tuesday. The firm has a market capitalization of $7.44 billion, a PE ratio of 17.24 and a beta of 0.97. Flextronics International has a 12 month low of $8.85 and a 12 month high of $13.79. The firm’s 50 day moving average is $12.94 and its 200-day moving average is $12.45.

Flextronics International (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. Flextronics International had a net margin of 1.77% and a return on equity of 22.68%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.71 billion. On average, analysts expect that Flextronics International will post $1.19 EPS for the current fiscal year.

In related news, CAO David P. Bennett sold 6,250 shares of the 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 owns 88,394 shares of the company’s stock, valued at approximately $1,051,004.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO David P. Bennett sold 3,125 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $11.83, for a total transaction of $36,968.75. Following the sale, the chief accounting officer now directly owns 88,394 shares of the company’s stock, valued at approximately $1,045,701.02. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FLEX. Panagora Asset Management Inc. increased its stake in Flextronics International by 3.8% in the first quarter. Panagora Asset Management Inc. now owns 2,872,654 shares of the company’s stock worth $34,644,000 after buying an additional 105,162 shares during the period. BlackRock Group LTD increased its stake in Flextronics International by 2.7% in the first quarter. BlackRock Group LTD now owns 4,892,921 shares of the company’s stock worth $59,007,000 after buying an additional 129,281 shares during the period. JPMorgan Chase & Co. increased its stake in Flextronics International by 598.5% in the first quarter. JPMorgan Chase & Co. now owns 2,699,936 shares of the company’s stock worth $32,561,000 after buying an additional 2,313,386 shares during the period. BlackRock Advisors LLC increased its stake in Flextronics International by 276.7% in the second quarter. BlackRock Advisors LLC now owns 2,663,774 shares of the company’s stock worth $31,433,000 after buying an additional 1,956,722 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Flextronics International by 88.0% in the second quarter. BNP Paribas Arbitrage SA now owns 386,610 shares of the company’s stock worth $4,562,000 after buying an additional 180,917 shares during the period. 91.36% of the stock is owned by hedge funds and other institutional investors.

About Flextronics International

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