Flextronics International Ltd. (NASDAQ:FLEX) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $18.57 and last traded at $18.24, with a volume of 3722500 shares changing hands. The stock had previously closed at $18.24.

A number of research firms have recently issued reports on FLEX. Citigroup Inc. lifted their price objective on shares of Flextronics International from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 27th. UBS AG lifted their price objective on shares of Flextronics International from $18.00 to $19.75 and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $19.00 price objective on shares of Flextronics International in a research note on Friday, September 1st. BidaskClub lowered shares of Flextronics International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Finally, Argus lifted their price objective on shares of Flextronics International from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Flextronics International has an average rating of “Buy” and an average target price of $19.53.

The firm has a market capitalization of $9,639.32, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.00 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.01.

Flextronics International (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. Flextronics International had a net margin of 2.25% and a return on equity of 22.71%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. analysts anticipate that Flextronics International Ltd. will post 1.09 EPS for the current year.

Flextronics International declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 65% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in FLEX. Geode Capital Management LLC boosted its holdings in shares of Flextronics International by 20.9% during the first quarter. Geode Capital Management LLC now owns 315,771 shares of the technology company’s stock valued at $5,278,000 after acquiring an additional 54,486 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Flextronics International by 15.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 150,148 shares of the technology company’s stock valued at $2,523,000 after acquiring an additional 20,376 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Flextronics International by 504.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 87,019 shares of the technology company’s stock valued at $1,419,000 after acquiring an additional 72,618 shares during the period. Aperio Group LLC boosted its holdings in shares of Flextronics International by 34.7% during the second quarter. Aperio Group LLC now owns 83,807 shares of the technology company’s stock valued at $1,367,000 after acquiring an additional 21,596 shares during the period. Finally, Investment House LLC boosted its holdings in shares of Flextronics International by 4.7% during the second quarter. Investment House LLC now owns 236,025 shares of the technology company’s stock valued at $3,850,000 after acquiring an additional 10,550 shares during the period. 96.07% of the stock is owned by institutional investors.

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About Flextronics International

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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