Flextronics International Ltd. (FLEX) EVP Sells $796,950.00 in Stock

Flextronics International Ltd. (NASDAQ:FLEX) EVP David Scott Offer sold 45,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $17.71, for a total value of $796,950.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Flextronics International Ltd. (NASDAQ:FLEX) opened at $17.71 on Thursday. Flextronics International Ltd. has a one year low of $14.22 and a one year high of $19.11. The firm has a market capitalization of $9,554.77, a P/E ratio of 15.72, a P/E/G ratio of 0.99 and a beta of 0.81. 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 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the business posted $0.28 EPS. Flextronics International’s quarterly revenue was up 4.3% on a year-over-year basis. equities analysts predict that Flextronics International Ltd. will post 1.09 earnings per share for the current fiscal year.

Flextronics International declared that its board has authorized a stock repurchase plan on Friday, August 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 65% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

FLEX has been the subject of a number of analyst reports. ValuEngine raised Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and set a $19.00 target price on shares of Flextronics International in a research note on Friday, September 1st. Zacks Investment Research raised Flextronics International from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus increased their target price on Flextronics International from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Citigroup increased their target price on Flextronics International from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.53.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLEX. Russell Investments Group Ltd. increased its stake in Flextronics International by 317.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,189,046 shares of the technology company’s stock valued at $19,702,000 after purchasing an additional 904,163 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Flextronics International by 9.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,996,536 shares of the technology company’s stock valued at $82,792,000 after purchasing an additional 421,171 shares in the last quarter. South Street Advisors LLC purchased a new position in Flextronics International in the 2nd quarter valued at approximately $3,277,000. Korea Investment CORP increased its position in Flextronics International by 145.7% during the third quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock worth $4,263,000 after buying an additional 152,600 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in Flextronics International by 6.2% during the third quarter. Tocqueville Asset Management L.P. now owns 1,116,155 shares of the technology company’s stock worth $18,495,000 after buying an additional 65,000 shares in the last quarter. 95.40% of the stock is owned by hedge funds and other institutional investors.

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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).

Insider Buying and Selling by Quarter for Flextronics International (NASDAQ:FLEX)

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