First Quadrant L P CA acquired a new position in Flextronics International Ltd. (NASDAQ:FLEX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,932 shares of the technology company’s stock, valued at approximately $579,000.
A number of other large investors have also added to or reduced their stakes in FLEX. Captrust Financial Advisors purchased a new stake in shares of Flextronics International during the second quarter valued at about $171,000. Airain ltd purchased a new stake in shares of Flextronics International during the second quarter valued at about $203,000. Raymond James Trust N.A. lifted its position in shares of Flextronics International by 2.3% during the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after buying an additional 309 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Flextronics International by 3.5% during the second quarter. IFP Advisors Inc now owns 24,625 shares of the technology company’s stock valued at $402,000 after buying an additional 832 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Flextronics International during the first quarter valued at about $706,000. 96.07% of the stock is owned by institutional investors.
Flextronics International Ltd. (NASDAQ:FLEX) opened at $18.27 on Tuesday. Flextronics International Ltd. has a fifty-two week low of $13.86 and a fifty-two week high of $18.47. The firm has a market capitalization of $9,708.02, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.01 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 issued its earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. equities research analysts forecast that Flextronics International Ltd. will post 1.09 earnings per share for the current fiscal year.
Flextronics International announced that its Board of Directors has initiated a share repurchase program on Friday, August 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 65% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
FLEX has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Flextronics International from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. ValuEngine upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Flextronics International from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $19.00 price target on shares of Flextronics International in a report on Friday, September 1st. Finally, Citigroup Inc. upped their price objective on Flextronics International from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.53.
Flextronics International 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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