Multi-Fineline Electronix Inc. (MFLX) Sees Large Volume Increase
Shares of Multi-Fineline Electronix Inc. (NASDAQ:MFLX) saw an uptick in trading volume on Tuesday . 149,542 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 91,929 shares.The stock last traded at $23.08 and had previously closed at $23.10.
Several brokerages have recently issued reports on MFLX. Zacks Investment Research cut Multi-Fineline Electronix from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 7th. B. Riley reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Multi-Fineline Electronix in a report on Friday, May 6th. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $23.50.
The company has a market cap of $568.55 million and a P/E ratio of 22.04. The firm has a 50 day moving average of $23.17 and a 200 day moving average of $21.63.
Multi-Fineline Electronix (NASDAQ:MFLX) last announced its earnings results on Thursday, May 5th. The company reported ($0.29) earnings per share (EPS) for the quarter. During the same period in the prior year, the company earned $0.37 earnings per share. The firm earned $101.20 million during the quarter, compared to analysts’ expectations of $118.58 million. The business’s quarterly revenue was down 32.1% on a year-over-year basis. Equities analysts predict that Multi-Fineline Electronix Inc. will post $0.53 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in 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 worth $21,183,000 after buying an additional 60,129 shares during the period. Bailard Inc. bought a new position in Multi-Fineline Electronix during the fourth quarter worth $1,160,000. GSA Capital Partners LLP raised its position in Multi-Fineline Electronix by 2.8% in the fourth quarter. GSA Capital Partners LLP now owns 133,885 shares of the company’s stock worth $2,769,000 after buying an additional 3,653 shares during the period. Finally, LSV Asset Management raised its position in Multi-Fineline Electronix by 69.6% in the fourth quarter. LSV Asset Management now owns 72,100 shares of the company’s stock worth $1,491,000 after buying an additional 29,600 shares during the period.
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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