November 30, 2016 - By Michael Collier
The director of Flex Ltd, Raymond Bingham has made a sudden trade in the Pinksheet-listed Flex Ltd that is amounting to $290,162 US Dollars. As discovered in the DC-based SEC legal form filed on 29/11/2016, Raymond unloaded 20,000 shares based on an average stock price per share of $14.5. Raymond Bingham presently owns 93,045 shares or 0.02% of Flex Ltd’s market cap.
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 stock has “Outperform” rating given by RBC Capital Markets on Thursday, August 27. The stock of Flex Ltd (NASDAQ:FLEX) earned “Buy” rating by Goldman Sachs on Wednesday, October 5. The rating was maintained by Citigroup with “Neutral” on Wednesday, October 21. The stock has “Buy” rating given by Citigroup on Friday, April 29. As per Tuesday, September 20, the company rating was upgraded by Goldman Sachs. The stock of Flex Ltd (NASDAQ:FLEX) has “Hold” rating given on Tuesday, May 24 by Standpoint Research. The firm has “Outperform” rating given on Monday, January 18 by RBC Capital Markets. As per Friday, January 29, the company rating was upgraded by Stifel Nicolaus. The stock of Flex Ltd (NASDAQ:FLEX) has “Buy” rating given on Wednesday, September 9 by UBS. The stock of Flex Ltd (NASDAQ:FLEX) earned “Buy” rating by Needham on Tuesday, October 20.
Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.49, from 1.26 in 2016Q1. The ratio is negative, 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.
Aqr Capital Lc accumulated 0.15% or 7.06M shares. Korea Inv Corp accumulated 0.02% or 342,000 shares. Strs Ohio holds 17,029 shares or 0% of its portfolio. Gulf Interest Fincl Bank (Uk) has 178,526 shares for 0.04% of their US portfolio. Signaturefd Llc last reported 24 shares in the company. Ladenburg Thalmann Financial Svcs Inc accumulated 0% or 20,383 shares. The New York-based Cramer Rosenthal Mcglynn Limited Company has invested 0.04% in Flex Ltd (NASDAQ:FLEX). Legg Mason Asset (Japan) has invested 0.99% of its portfolio in Flex Ltd (NASDAQ:FLEX). Moreover, Advisors Mgmt Limited Com has 0.48% invested in Flex Ltd (NASDAQ:FLEX) for 398,673 shares. The California-based Wells Fargo And Comm Mn has invested 0% in Flex Ltd (NASDAQ:FLEX). Bnp Paribas Arbitrage has invested 0.02% of its portfolio in Flex Ltd (NASDAQ:FLEX). Moreover, Nationwide Fund has 0.01% invested in Flex Ltd (NASDAQ:FLEX) for 134,958 shares. First Interstate Bancshares accumulated 2,485 shares or 0.01% of the stock. Moreover, Diam Ltd has 0.01% invested in Flex Ltd (NASDAQ:FLEX) for 66,565 shares. Hillsdale Inv Mngmt Inc reported 2,000 shares or 0.01% of all its holdings.
Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 16 sales for $13.76 million net activity. Humphries Paul had sold 203,489 shares worth $2.65M. Another trade for 6,250 shares valued at $80,175 was made by Bennett David P on Tuesday, July 26. $2.79 million worth of shares were sold by MCNAMARA MICHAEL M on Wednesday, June 8. The insider Tan Lay Koon sold 333 shares worth $4,307. Barbier Francois sold 22,750 shares worth $289,150. The insider WATKINS WILLIAM D sold 8,000 shares worth $98,766. HOAK JONATHAN S also sold $315,948 worth of Flex Ltd (NASDAQ:FLEX) shares.
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 earnings per share, 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 earnings per share 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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