Flextronics International Ltd. (FLEX) Holdings Trimmed by Earnest Partners LLC

Earnest Partners LLC lessened its holdings in shares of Flextronics International Ltd. (NASDAQ:FLEX) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,297,731 shares of the technology company’s stock after selling 65,281 shares during the quarter. Earnest Partners LLC owned 0.43% of Flextronics International worth $37,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new stake in Flextronics International during the 2nd quarter valued at approximately $171,000. Cambridge Investment Research Advisors Inc. grew its stake in Flextronics International by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after purchasing an additional 516 shares in the last quarter. Airain ltd acquired a new stake in Flextronics International during the 2nd quarter valued at approximately $203,000. FNY Partners Fund LP acquired a new stake in Flextronics International during the 1st quarter valued at approximately $214,000. Finally, Raymond James Trust N.A. grew its stake in Flextronics International by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

FLEX has been the subject of a number of recent analyst reports. ValuEngine upgraded Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Flextronics International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered Flextronics International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $19.00 price objective on shares of Flextronics International in a research note on Friday, September 1st. Finally, Needham & Company LLC raised their price objective on Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.56.

In related news, insider David P. Bennett sold 6,250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $17.02, for a total transaction of $106,375.00. Following the transaction, the insider now directly owns 54,299 shares in the company, valued at $924,168.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Willy C. Shih sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $16.03, for a total value of $400,750.00. Following the transaction, the director now owns 206,895 shares in the company, valued at $3,316,526.85. The disclosure for this sale can be found here. Insiders have sold 33,978 shares of company stock worth $550,582 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://ledgergazette.com/2017/10/09/flextronics-international-ltd-flex-holdings-trimmed-by-earnest-partners-llc.html.

Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.06% on Monday, hitting $17.09. The stock had a trading volume of 190,638 shares. The firm’s 50-day moving average is $16.43 and its 200 day moving average is $16.42. Flextronics International Ltd. has a 1-year low of $13.34 and a 1-year high of $17.76. The stock has a market cap of $9.10 billion, a P/E ratio of 27.17 and a beta of 0.83.

Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. 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 company posted $0.27 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Flextronics International Ltd. will post $1.09 EPS for the current year.

Flextronics International declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 65% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Flextronics International Company Profile

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Compa

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new stake in Flextronics International during the 2nd quarter valued at approximately $171,000. Cambridge Investment Research Advisors Inc. grew its stake in Flextronics International by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,087 shares of the technology company’s stock valued at $203,000 after purchasing an additional 516 shares in the last quarter. Airain ltd acquired a new stake in Flextronics International during the 2nd quarter valued at approximately $203,000. FNY Partners Fund LP acquired a new stake in Flextronics International during the 1st quarter valued at approximately $214,000. Finally, Raymond James Trust N.A. grew its stake in Flextronics International by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock valued at $220,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

FLEX has been the subject of a number of recent analyst reports. ValuEngine upgraded Flextronics International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Flextronics International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered Flextronics International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $19.00 price objective on shares of Flextronics International in a research note on Friday, September 1st. Finally, Needham & Company LLC raised their price objective on Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.56.

In related news, insider David P. Bennett sold 6,250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $17.02, for a total transaction of $106,375.00. Following the transaction, the insider now directly owns 54,299 shares in the company, valued at $924,168.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Willy C. Shih sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $16.03, for a total value of $400,750.00. Following the transaction, the director now owns 206,895 shares in the company, valued at $3,316,526.85. The disclosure for this sale can be found here. Insiders have sold 33,978 shares of company stock worth $550,582 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://ledgergazette.com/2017/10/09/flextronics-international-ltd-flex-holdings-trimmed-by-earnest-partners-llc.html.

Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.06% on Monday, hitting $17.09. The stock had a trading volume of 190,638 shares. The firm’s 50-day moving average is $16.43 and its 200 day moving average is $16.42. Flextronics International Ltd. has a 1-year low of $13.34 and a 1-year high of $17.76. The stock has a market cap of $9.10 billion, a P/E ratio of 27.17 and a beta of 0.83.

Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. 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 company posted $0.27 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Flextronics International Ltd. will post $1.09 EPS for the current year.

Flextronics International declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 65% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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).

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flextronics International Ltd. (NASDAQ:FLEX).

Institutional Ownership by Quarter for Flextronics International (NASDAQ:FLEX)

Receive News & Ratings for Flextronics International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flextronics International Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply