Flextronics International Ltd. (FLEX) was Downgraded by Standpoint Research to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Standpoint Research advised their investors in a research report released on May 24, 2016.
Many Wall Street Analysts have commented on Flextronics International Ltd.. Flextronics International Ltd. was Resumed by BofA/Merrill to “Buy” on May 12, 2016. JP Morgan Initiated Flextronics International Ltd. on Apr 26, 2016 to “Overweight”, Price Target of the shares are set at $15.Company shares were Reiterated by Raymond James on Apr 11, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12.50 .
On the company’s financial health, Flextronics International Ltd. reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.28. The company had revenue of $5772.70 million for the quarter, compared to analysts expectations of $5836.90 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Flextronics International Ltd. opened for trading at $12.23 and hit $12.48 on the upside on Friday, eventually ending the session at $12.36, with a gain of 1.15% or 0.14 points. The heightened volatility saw the trading volume jump to 29,84,272 shares. Company has a market cap of $6,780,511 M.
In a different news, on May 18, 2016, Paul Humphries (President, HRS) sold 12,725 shares at $12.23 per share price. According to the SEC, on May 18, 2016, Francois Barbier (President, Global Operations) sold 20,790 shares at $12.23 per share price. On May 18, 2016, Michael M Mcnamara (Chief Executive Officer) sold 112,500 shares at $12.44 per share price, according to the Form-4 filing with the securities and exchange commission.
Flextronics International Ltd. (Flextronics) is a Singapore-based provider of global supply chain solutions. The Company designs builds ships and serves packaged electronic products for its original equipment manufacturers (OEMs) in various groups. The Company offers a range of design and engineering services that relate to manufacturing (including enclosures metals plastic injection molding precision plastics machining and mechanicals) system integration and assembly and test services materials procurement inventory management logistics and after-sales services (including product repair warranty services re-manufacturing and maintenance) supply chain management software solutions and component product offerings (including rigid and flexible printed circuit boards and power adapters and chargers).