BNP Paribas Arbitrage SA decreased its position in Flextronics International Ltd. (NASDAQ:FLEX) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,849 shares of the company’s stock after selling 31,761 shares during the period. BNP Paribas Arbitrage SA owned 0.06% of Flextronics International worth $4,833,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FLEX. CIBC Asset Management Inc purchased a new stake in shares of Flextronics International during the second quarter worth about $121,000. Gateway Investment Advisers LLC raised its stake in shares of Flextronics International by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 10,778 shares of the company’s stock worth $127,000 after buying an additional 778 shares during the period. Hartford Investment Management Co. raised its stake in shares of Flextronics International by 0.9% in the second quarter. Hartford Investment Management Co. now owns 11,576 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the period. Advisor Group Inc. purchased a new stake in shares of Flextronics International during the second quarter worth about $140,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Flextronics International during the second quarter worth about $158,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.
Flextronics International Ltd. (NASDAQ:FLEX) traded up 0.21% during midday trading on Friday, reaching $14.53. 1,262,659 shares of the company traded hands. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 25.45 and a beta of 0.89. Flextronics International Ltd. has a 12 month low of $8.85 and a 12 month high of $15.09. The firm has a 50 day moving average of $13.96 and a 200-day moving average of $13.08.
Flextronics International (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.28. Flextronics International had a net margin of 1.28% and a return on equity of 22.09%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. Analysts forecast that Flextronics International Ltd. will post $1.17 EPS for the current fiscal year.
A number of analysts recently issued reports on the stock. B. Riley restated a “buy” rating and set a $14.50 target price on shares of Flextronics International in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Flextronics International from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Goldman Sachs Group Inc. upgraded shares of Flextronics International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $16.00 in a report on Tuesday, September 20th. Finally, Craig Hallum lowered shares of Flextronics International from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, October 28th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.35.
In related news, Director H Raymond Bingham sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $13.20, for a total transaction of $330,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.94% of the company’s stock.
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).