Shares of Flextronics International Ltd. (NASDAQ:FLEX) have been assigned a consensus rating of “Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.25.

A number of brokerages recently weighed in on FLEX. UBS AG boosted their target price on shares of Flextronics International from $18.00 to $19.75 and gave the stock a “buy” rating in a report on Friday, October 27th. Citigroup Inc. boosted their target price on shares of Flextronics International from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Argus boosted their target price on shares of Flextronics International from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Flextronics International from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.

COPYRIGHT VIOLATION NOTICE: “Brokerages Set Flextronics International Ltd. (FLEX) Target Price at $18.78” was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://theolympiareport.com/2017/11/01/brokerages-set-flextronics-international-ltd-flex-target-price-at-18-78.html.

Flextronics International (NASDAQ:FLEX) last issued its earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.09 billion. Flextronics International had a net margin of 2.25% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share.

Flextronics International declared that its board has approved a stock buyback plan on Friday, August 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 65% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other news, Director Lay Koon Tan sold 2,728 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $15.93, for a total value of $43,457.04. Following the completion of the sale, the director now owns 114,394 shares of the company’s stock, valued at $1,822,296.42. The sale was disclosed in a document filed with the SEC, 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 transaction of $400,750.00. Following the completion of the sale, the director now directly owns 206,895 shares of the company’s stock, valued at approximately $3,316,526.85. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in shares of Flextronics International by 156.4% in the second quarter. Canada Pension Plan Investment Board now owns 55,901 shares of the technology company’s stock valued at $912,000 after acquiring an additional 34,102 shares during the period. Paloma Partners Management Co bought a new stake in shares of Flextronics International in the first quarter valued at about $706,000. Schwab Charles Investment Management Inc. boosted its position in shares of Flextronics International by 15.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 150,148 shares of the technology company’s stock valued at $2,523,000 after acquiring an additional 20,376 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of Flextronics International by 504.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 87,019 shares of the technology company’s stock valued at $1,419,000 after acquiring an additional 72,618 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Flextronics International by 6.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 351,816 shares of the technology company’s stock valued at $5,778,000 after acquiring an additional 20,008 shares during the period. 94.50% of the stock is owned by institutional investors.

About Flextronics International

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).

Analyst Recommendations 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 Analyst Ratings Network's FREE daily email newsletter.