Flextronics International Ltd (NASDAQ:FLEX) Stock Upgrade
The rating of Flextronics International Ltd (NASDAQ:FLEX) shares have been boosted by research analysts at Citigroup from their previous “Neutral” rating to a solid “Buy” via recent note shared with investors on Friday, 11 December. Citigroup now has a $14.00 target PPS shares and their target PPS would indicate a possible upside of 29.03%.
From a total of 8 analysts covering Flextronics International Ltd. (NASDAQ:FLEX) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 46% of the ratings are positive. The highest target price is $14 while the lowest target price is $12. The mean of all analyst targets is $13.44 with a 19.45% above today’s ($10.85) stock price. Flextronics International Ltd. was the topic of 12 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on October 21 with “Neutral” rating. B. Riley & Co initiated FLEX stock in a recent report from October 9 with “Buy” rating. Finally, Zacks downgraded the stock to “Sell” rating in a report issued on a September 2.
Approximately 3.59 million shares of stock traded hands. Flextronics International Ltd. (NASDAQ:FLEX) has declined 9.70% since May 8, 2015 and is downtrending. It has underperformed by 6.68% the S&P500.
The overall sentiment of institutions has decreased to 0.71 in Q2 2015. Its down 0.10, from 0.81 in 2015Q2. The ratio turned negative, as 32 institutions have sold all the shares of Flextronics International Ltd. that they owned while 114 funds have taken shares off the table. 23 funds have purchased shares for the first time while 81 added to their positions. These institutions now hold 474.24 million shares or 3.94% less than the 493.70 million shares they owned in 2015Q2.
The Fund Simcoe Capital Management Llc currently is holding shares equating to 7.97% of its total portfolio in Flextronics International Ltd. representing a total of 1.15 million shares. Another fund,Towle & Co, is holding a total of 2.03 million shares equating to 4.89% of their holdings. Additionally, Lesa Sroufe & Co has a 499,842 share stake in Flextronics International Ltd. which represents 4.19% of their total portfolio. The Fund, Glenview Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.93% of their total portfolio. Finally Sadoff Investment Management Llc, a fund which is based in the state of Wisconsin reported a total holdings of 2.19 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of Flextronics International Ltd. have witnessed 0 insider purchases, and a total of 14 sales equating to a net activity of approximately $14.48 million . Tan Lay Koon sold 378 shares worth approximately $4,311. Mcnamara Michael M sold 500,000 shares worth approximately $5.43M. Collier Christopher sold 60,000 shares worth approximately $632,904. Barbier Francois sold 16,519 shares worth approximately $192,762. The company insider Humphries Paul sold 27,531 shares worth $321,298.
Flextronics International Ltd. is a Singapore well-known provider of global supply chain solutions. The company has a market cap of $6.00 billion. The Firm designs, builds, ships and serves packaged electronic products for its original equipment manufacturers (OEMs) in various groups. It has 12.03 P/E ratio.
According to Zacks Investment Research, “Flextronic International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking, consumer electronics and computer industries. The company’s strategy is to provide customers with the ability to outsource, on a global basis, a complete product wherethe company’s take responsibility for engineering, supply chain management, assembly, integration, test and logistics management. The company provides complete product design services, including electrical and mechanical, circuit and layout.” Get a free copy of the Zacks research report on Flextronics International Ltd. (FLEX).