Daiwa Securities Group Inc. held its stake in shares of Flextronics International Ltd. (NASDAQ:FLEX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,200 shares of the company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Flextronics International were worth $156,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Panagora Asset Management Inc. increased its stake in shares of Flextronics International by 3.8% in the first quarter. Panagora Asset Management Inc. now owns 2,872,654 shares of the company’s stock valued at $34,644,000 after buying an additional 105,162 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Flextronics International during the second quarter valued at $158,000. BlackRock Group LTD increased its stake in shares of Flextronics International by 2.7% in the first quarter. BlackRock Group LTD now owns 4,892,921 shares of the company’s stock valued at $59,007,000 after buying an additional 129,281 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flextronics International by 598.5% in the first quarter. JPMorgan Chase & Co. now owns 2,699,936 shares of the company’s stock valued at $32,561,000 after buying an additional 2,313,386 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Flextronics International by 88.0% in the second quarter. BNP Paribas Arbitrage SA now owns 386,610 shares of the company’s stock valued at $4,562,000 after buying an additional 180,917 shares in the last quarter. 91.36% of the stock is owned by institutional investors and hedge funds.
Shares of Flextronics International Ltd. (NASDAQ:FLEX) traded down 0.07% on Friday, reaching $14.10. The company had a trading volume of 2,339,050 shares. Flextronics International Ltd. has a 52 week low of $8.85 and a 52 week high of $14.20. The company’s 50-day moving average price is $13.25 and its 200 day moving average price is $12.63. The firm has a market capitalization of $7.70 billion, a P/E ratio of 17.85 and a beta of 1.02.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Flextronics International had a return on equity of 22.68% and a net margin of 1.77%. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.71 billion. On average, analysts expect that Flextronics International Ltd. will post $1.19 EPS for the current year.
FLEX has been the subject of several recent analyst reports. Zacks Investment Research downgraded Flextronics International from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Goldman Sachs Group Inc. raised Flextronics International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Tuesday, September 20th. Raymond James Financial Inc. reissued a “strong-buy” rating and issued a $14.00 price target on shares of Flextronics International in a report on Monday, July 11th. Argus reissued a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Flextronics International in a report on Tuesday, July 26th. Finally, B. Riley reaffirmed a “buy” rating and set a $14.50 target price on shares of Flextronics International in a report on Tuesday, September 6th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $14.09.
In other Flextronics International news, insider David P. Bennett sold 6,250 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $12.83, for a total transaction of $80,187.50. Following the sale, the insider now owns 82,144 shares in the company, valued at approximately $1,053,907.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Watkins sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.35, for a total value of $98,800.00. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.
About Flextronics International
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