Flextronics International Ltd. (FLEX) Insider David P. Bennett Sells 7,500 Shares of Stock
Flextronics International Ltd. (NASDAQ:FLEX) insider David P. Bennett sold 7,500 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $14.52, for a total transaction of $108,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Flextronics International Ltd. (NASDAQ:FLEX) opened at 14.54 on Wednesday. Flextronics International Ltd. has a 52-week low of $8.85 and a 52-week high of $15.09. The firm has a market capitalization of $7.85 billion, a P/E ratio of 25.46 and a beta of 0.89. The firm’s 50-day moving average is $13.97 and its 200-day moving average is $13.11.
Flextronics International (NASDAQ:FLEX) last posted its earnings results on Thursday, October 27th. The company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. Flextronics International had a return on equity of 22.09% and a net margin of 1.28%. The company earned $6.01 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts expect that Flextronics International Ltd. will post $1.17 earnings per share for the current year.
Several large investors have recently bought and sold shares of FLEX. CIBC Asset Management Inc purchased a new stake in Flextronics International during the second quarter worth $121,000. Gateway Investment Advisers LLC boosted its position in shares of Flextronics International by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 10,778 shares of the company’s stock worth $127,000 after buying an additional 778 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Flextronics International during the second quarter worth approximately $140,000. Finally, Aviance Capital Management LLC bought a new position in shares of Flextronics International during the third quarter worth approximately $181,000. 80.34% of the stock is owned by institutional investors.
Several brokerages have issued reports on FLEX. B. Riley reissued a “buy” rating and issued a $14.50 price target on shares of Flextronics International in a report on Tuesday, September 6th. Zacks Investment Research raised shares of Flextronics International from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Goldman Sachs Group Inc. raised shares of Flextronics International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $16.00 in a report on Tuesday, September 20th. Finally, Craig Hallum lowered shares of Flextronics International from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, October 28th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.35.
Flextronics International Company Profile
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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