Multi-Fineline Electronix Inc. (MFLX) Sees Strong Trading Volume
Shares of Multi-Fineline Electronix Inc. (NASDAQ:MFLX) saw unusually-strong trading volume on Wednesday . Approximately 87,765 shares were traded during trading, an increase of 23% from the previous session’s volume of 71,528 shares.The stock last traded at $23.25 and had previously closed at $23.30.
Several equities analysts have commented on MFLX shares. Zacks Investment Research lowered shares of Multi-Fineline Electronix from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. B. Riley reiterated a “neutral” rating and set a $23.00 price objective on shares of Multi-Fineline Electronix in a research report on Thursday, May 12th. Five analysts have rated the stock with a hold rating, Multi-Fineline Electronix has an average rating of “Hold” and an average price target of $23.50.
The stock has a market cap of $572.99 million and a price-to-earnings ratio of 22.22. The firm’s 50 day moving average is $23.09 and its 200 day moving average is $21.58.
Multi-Fineline Electronix (NASDAQ:MFLX) last posted its earnings results on Thursday, May 5th. The company reported ($0.29) earnings per share for the quarter. The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $118.58 million. Multi-Fineline Electronix’s quarterly revenue was down 32.1% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. On average, analysts expect that Multi-Fineline Electronix Inc. will post $0.53 EPS for the current year.
A number of large investors recently modified their holdings of MFLX. Dimensional Fund Advisors LP raised its stake in shares of Multi-Fineline Electronix by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,330 shares of the company’s stock valued at $21,183,000 after buying an additional 60,129 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Multi-Fineline Electronix by 2.8% in the fourth quarter. GSA Capital Partners LLP now owns 133,885 shares of the company’s stock valued at $2,769,000 after buying an additional 3,653 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Multi-Fineline Electronix by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 76,182 shares of the company’s stock valued at $1,575,000 after buying an additional 4,634 shares during the last quarter. LSV Asset Management raised its stake in shares of Multi-Fineline Electronix by 69.6% in the fourth quarter. LSV Asset Management now owns 72,100 shares of the company’s stock valued at $1,491,000 after buying an additional 29,600 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of Multi-Fineline Electronix during the fourth quarter valued at approximately $1,160,000.
Multi-Fineline Electronix, Inc is engaged in the engineering, design and manufacture of flexible circuit boards along with related component assemblies. The Company provides flexible printed circuits and value-added component assembly solutions to the electronics industry. The Company provides its solutions to original equipment manufacturers (OEMs) and to electronic manufacturing services (EMS) providers.
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