November 30, 2016 - By Ruchi Gupta
David Bennett, the Chief Accounting Officer of Flex Ltd made trade for 7,500 shares with an average price per share of $14.5 in the public company, that are having a worth of $108,902 US Dollars. The probability of this deal staying hidden is nil, with the Chief Accounting Officer today having rights to 71,519 shares —- that is 0.01% of the stock market cap of the company.
Out of 14 analysts covering Flextronics International Ltd. (NASDAQ:FLEX), 11 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 79% are positive. $16 is the highest target while $10 is the lowest. The $13.52 average target is -7.02% below today’s ($14.54) stock price. Flextronics International Ltd. has been the topic of 26 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, January 15 by RBC Capital Markets. Zacks upgraded the stock to “Sell” rating in Tuesday, August 11 report. The firm has “Buy” rating by Bank of America given on Thursday, May 12. The stock of Flex Ltd (NASDAQ:FLEX) earned “Strong Buy” rating by Raymond James on Friday, January 29. The company was upgraded on Wednesday, September 9 by UBS. The stock of Flex Ltd (NASDAQ:FLEX) earned “Outperform” rating by RBC Capital Markets on Monday, October 5. The rating was upgraded by Zacks to “Sell” on Friday, August 21. Goldman Sachs upgraded Flex Ltd (NASDAQ:FLEX) on Tuesday, September 20 to “Buy” rating. The stock of Flex Ltd (NASDAQ:FLEX) earned “Buy” rating by Goldman Sachs on Wednesday, October 5. Zacks downgraded the stock to “Sell” rating in Wednesday, September 2 report.
Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.49, from 1.26 in 2016Q1. The ratio dived, as 28 funds sold all Flex Ltd shares owned while 100 reduced positions. 52 funds bought stakes while 109 increased positions. They now own 436.77 million shares or 2.18% more from 427.45 million shares in 2016Q1.
The Australia-based Westpac Corporation has invested 0% in Flex Ltd (NASDAQ:FLEX). Moreover, Tocqueville Asset Mngmt Ltd Partnership has 0.33% invested in Flex Ltd (NASDAQ:FLEX) for 2.20M shares. Guggenheim Capital Limited Liability Corp reported 91,946 shares or 0% of all its holdings. Ifrah Svcs Incorporated, a Arkansas-based fund reported 54,308 shares. M&T Bancorp accumulated 0.02% or 196,060 shares. Credit Suisse Ag has invested 0.01% of its portfolio in Flex Ltd (NASDAQ:FLEX). Primecap Mgmt Ca last reported 0.64% of its portfolio in the stock. Passport Ltd Llc reported 6.00M shares or 1.29% of all its holdings. Verition Fund Mgmt Limited Company owns 21,810 shares or 0.03% of their US portfolio. Gsa Ptnrs Limited Liability Partnership holds 180,867 shares or 0.12% of its portfolio. Simcoe Cap Management has 10.55% invested in the company for 1.58M shares. Eqis Management holds 84,454 shares or 0.07% of its portfolio. Tiaa Cref Invest Mgmt Ltd has 2.41M shares for 0.02% of their US portfolio. Suntrust Banks has 310,532 shares for 0.02% of their US portfolio. Mizuho Asset Mgmt Coltd last reported 0.02% of its portfolio in the stock.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 16 sales for $13.76 million net activity. Tan Lay Koon sold $42,113 worth of stock or 3,292 shares. Shares for $971,256 were sold by Humphries Paul. 217,125 shares with value of $2.79M were sold by MCNAMARA MICHAEL M on Wednesday, June 8. Bennett David P sold $40,105 worth of stock or 3,155 shares. WATKINS WILLIAM D had sold 8,000 shares worth $98,766. The insider HOAK JONATHAN S sold 5,151 shares worth $64,954. $289,150 worth of Flex Ltd (NASDAQ:FLEX) was sold by Barbier Francois on Monday, June 13.
The stock increased 0.62% or $0.09 during the last trading session, hitting $14.54. About 2.81M shares traded hands. Flex Ltd (NASDAQ:FLEX) has risen 16.91% since April 26, 2016 and is uptrending. It has outperformed by 11.65% the S&P500.
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The company has a market cap of $7.81 billion. The Firm designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers . It has a 25.79 P/E ratio. The Company’s divisions include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
According to Zacks Investment Research, “Flextronic International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking, consumer electronics and computer industries. The company’s strategy is to provide customers with the ability to outsource, on a global basis, a complete product wherethe company’s take responsibility for engineering, supply chain management, assembly, integration, test and logistics management. The company provides complete product design services, including electrical and mechanical, circuit and layout.”
Analysts await Flex Ltd (NASDAQ:FLEX) to report earnings on January, 26. They expect $0.30 EPS, down 9.09% or $0.03 from last year’s $0.33 per share. FLEX’s profit will be $161.14 million for 12.12 P/E if the $0.30 EPS becomes a reality. After $0.24 actual EPS reported by Flex Ltd for the previous quarter, Wall Street now forecasts 25.00% EPS growth.
More recent Flex Ltd (NASDAQ:FLEX) news were published by: Profitconfidential.com which released: “Flextronics International Ltd.: FLEX Stock Charts Are a Must-See” on November 28, 2016. Also Streetinsider.com published the news titled: “Form 4 FLEX LTD. For: Nov 28 Filed by: Bennett David P” on November 29, 2016. Seekingalpha.com‘s news article titled: “Flextronics Earnings Update – October 2016” with publication date: November 28, 2016 was also an interesting one.
Flex Ltd, formerly Flextronics International Ltd., incorporated on May 1, 1990, is a well-known provider of design, engineering, manufacturing, and supply chain services and solutions. The Firm designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). The Company’s divisions include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC). The HRS segment consists of its medical business, including consumer health, digital health, disposables, drug delivery, diagnostics, life sciences and imaging equipment; its automotive business, including vehicle electronics, connectivity, and clean technologies, and its defense and aerospace businesses, which are focused on commercial aviation, defense and military. The CTG segment includes its mobile devices business, including smart phones; its consumer electronics business, including connected living, wearable electronics including digital sport, game consoles, and connectivity devices, and its high-volume computing business, including various supply chain solutions for notebook personal computers (PCs), tablets, and printers. In addition, its CTG segment includes supply chain optimization for non-electronics products, such as shoes and clothing.
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By Ruchi Gupta