Flextronics International Ltd. (NASDAQ:FLEX) had its price objective increased by Argus from $20.00 to $23.00 in a report published on Wednesday, November 1st. They currently have a buy rating on the technology company’s stock.
Several other equities analysts have also recently issued reports on the company. UBS AG boosted their target price on Flextronics International from $18.00 to $19.75 and gave the company a buy rating in a research note on Friday, October 27th. Citigroup Inc. boosted their target price on Flextronics International from $18.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 27th. Stifel Nicolaus boosted their target price on Flextronics International from $19.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 27th. 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, October 13th. Finally, Zacks Investment Research raised Flextronics International from a sell rating to a hold rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $19.53.
Flextronics International (NASDAQ FLEX) opened at $18.72 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.70. The company has a market capitalization of $9,820.00, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.82. Flextronics International has a 12 month low of $13.98 and a 12 month high of $18.74.
Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 EPS for the quarter, topping the Zacks’ 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 business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. equities analysts predict that Flextronics International will post 1.09 earnings per share for the current fiscal year.
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Flextronics International announced that its board has approved a stock buyback program on Friday, August 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 65% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in Flextronics International in the second quarter worth $171,000. Airain ltd bought a new stake in Flextronics International in the second quarter worth $203,000. Raymond James Trust N.A. boosted its holdings in Flextronics International by 2.3% in the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after acquiring an additional 309 shares in the last quarter. Woodmont Investment Counsel LLC bought a new stake in Flextronics International in the third quarter worth $244,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Flextronics International during the first quarter valued at $348,000. 97.46% of the stock is currently owned by institutional investors and hedge funds.
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).
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