Aperio Group LLC lowered its position in Flextronics International Ltd. (NASDAQ:FLEX) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,993 shares of the technology company’s stock after selling 11,814 shares during the quarter. Aperio Group LLC’s holdings in Flextronics International were worth $1,193,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. PGGM Investments grew its holdings in shares of Flextronics International by 0.3% in the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock valued at $36,197,000 after purchasing an additional 7,337 shares during the period. Oak Associates Ltd. OH grew its holdings in shares of Flextronics International by 8.5% in the second quarter. Oak Associates Ltd. OH now owns 556,305 shares of the technology company’s stock valued at $9,073,000 after purchasing an additional 43,680 shares during the period. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Flextronics International by 9.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 144,563 shares of the technology company’s stock valued at $2,357,000 after purchasing an additional 12,900 shares during the period. South Street Advisors LLC purchased a new stake in shares of Flextronics International in the second quarter valued at about $3,277,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Flextronics International in the second quarter valued at about $171,000. 96.07% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the stock. Citigroup Inc. upped their price objective on shares of Flextronics International from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. UBS AG increased their target price on shares of Flextronics International from $18.00 to $19.75 and gave the stock a “buy” rating in a research note on Friday, October 27th. BidaskClub lowered shares of Flextronics International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Argus increased their target price on shares of Flextronics International from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 target price on shares of Flextronics International in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $19.53.
Flextronics International Ltd. (FLEX) opened at $18.57 on Friday. The firm has a market cap of $9,810.00, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.00 and a beta of 0.82. Flextronics International Ltd. has a 12 month low of $13.97 and a 12 month high of $18.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.70 and a current ratio of 1.23.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Flextronics International had a net margin of 2.25% and a return on equity of 22.71%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. equities analysts forecast that Flextronics International Ltd. will post 1.09 EPS for the current year.
Flextronics International announced that its Board of Directors has initiated a stock 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 buy up to 65% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Flextronics International 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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