Shares of Flextronics International Ltd. (NASDAQ: FLEX) were downgraded by analysts at Zacks Investment Research in a note to their investors today. The company currently has a rating of Hold on the stock. As a means of comparison, a number of other analysts have spoken on the stock recently, and the company has secured a consensus one-year price target of $14.54, higher than the opening price of $13.18, a difference of 10.81 percent. Flextronics International Ltd. stock has a 52-week high of $13.49. Downgrades happen when analysts believe that the future prospects for the security have weakened from the initial recommendation, usually caused by a considerable and major change in the company’s operations, future outlook or industry.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Flextronics International Ltd. (NASDAQ: FLEX) opened at $13.18 yesterday and traded in a range between, $13.15 and $13.48, and last traded at $13.45, which is an increase of $0.32 over the previous closing price.
Flextronics International Ltd. (NASDAQ: FLEX) now has a market cap of 7.35B.
The stock’s average daily volume is 4,643,200 shares out of a total float 493,933,000 and some 5,631,781 shares crossed the trading desk yesterday, higher than normal. Substantial expansions in trading volume and price growth together could indicate excessive volume accumulation by institutional investors.
While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By marking the activity of these professional investors and how they influence moving averages, traders can make well planned trades.
With that in mind, Flextronics International Ltd. (NASDAQ: FLEX) now has a 50-day MA of $12.91 and 200-day MA of $12.45. It has traded in a 52-week range between $8.85 – 13.49 and today’s last price is 0.00% lower than the 52 week high of $13.49.
Earnings growth is an important factor to consider when buying stocks and investors seek companies that have raised their earnings by at least 25% for a 3 year period.
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