News headlines about Flextronics International (NASDAQ:FLEX) have trended somewhat positive on Saturday, Accern reports. The research firm rates the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Flextronics International earned a news sentiment score of 0.07 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 46.6347321447622 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Shares of Flextronics International (NASDAQ:FLEX) traded up 0.66% during trading on Friday, reaching $16.69. 2,101,526 shares of the company traded hands. Flextronics International has a 12-month low of $12.97 and a 12-month high of $17.76. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 26.53 and a beta of 0.79. The company has a 50 day moving average price of $16.09 and a 200 day moving average price of $16.41.
Flextronics International (NASDAQ:FLEX) last posted its earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Flextronics International had a net margin of 1.41% and a return on equity of 20.46%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Flextronics International will post $1.09 EPS for the current year.
Flextronics International announced that its board has authorized a share buyback program on Friday, August 18th that allows the company to buyback $500.00 million in outstanding 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 board of directors believes its stock is undervalued.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine lowered shares of Flextronics International from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $19.00 target price on shares of Flextronics International in a research report on Friday, September 1st. BidaskClub lowered shares of Flextronics International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Macquarie assumed coverage on shares of Flextronics International in a research report on Thursday, June 22nd. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.55.
In other news, insider David P. Bennett sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $16.75, for a total value of $104,687.50. Following the transaction, the insider now owns 45,251 shares in the company, valued at approximately $757,954.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 2,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.93, for a total transaction of $43,457.04. Following the completion of the transaction, the director now owns 114,394 shares in the company, valued at approximately $1,822,296.42. The disclosure for this sale can be found here. Insiders have sold a total of 778,619 shares of company stock worth $12,676,488 over the last three months. Insiders own 0.83% of the company’s stock.
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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