Geode Capital Management LLC Raises Position in Flextronics International Ltd. (NASDAQ:FLEX)

Geode Capital Management LLC raised its stake in shares of Flextronics International Ltd. (NASDAQ:FLEX) by 20.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,771 shares of the technology company’s stock after buying an additional 54,486 shares during the period. Geode Capital Management LLC owned 0.06% of Flextronics International worth $5,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Americafirst Capital Management LLC purchased a new stake in shares of Flextronics International during the first quarter valued at about $522,000. Keybank National Association OH purchased a new stake in shares of Flextronics International during the first quarter valued at about $199,000. Toronto Dominion Bank increased its stake in shares of Flextronics International by 26.1% in the first quarter. Toronto Dominion Bank now owns 5,969 shares of the technology company’s stock valued at $100,000 after buying an additional 1,234 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Flextronics International during the first quarter valued at about $902,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Flextronics International by 12.1% in the first quarter. Parametric Portfolio Associates LLC now owns 663,409 shares of the technology company’s stock valued at $11,145,000 after buying an additional 71,485 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Flextronics International Ltd. (FLEX) traded down 0.38% during mid-day trading on Friday, hitting $15.69. 2,785,125 shares of the stock were exchanged. Flextronics International Ltd. has a one year low of $12.41 and a one year high of $17.76. The company has a 50-day moving average price of $16.46 and a 200-day moving average price of $16.38. The company has a market cap of $8.35 billion, a P/E ratio of 24.94 and a beta of 0.79.

Flextronics International (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Flextronics International had a return on equity of 20.46% and a net margin of 1.41%. Flextronics International’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, analysts predict that Flextronics International Ltd. will post $1.09 earnings per share for the current fiscal year.

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Several analysts have issued reports on the stock. Macquarie assumed coverage on shares of Flextronics International in a research report on Thursday, June 22nd. They issued a “neutral” rating for the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $19.50 price objective (up previously from $17.50) on shares of Flextronics International in a research report on Wednesday, May 17th. Zacks Investment Research downgraded shares of Flextronics International from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Flextronics International in a research report on Friday, June 16th. Finally, Needham & Company LLC increased their price objective on shares of Flextronics International from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Flextronics International has a consensus rating of “Buy” and an average price target of $17.75.

In other Flextronics International news, CEO Michael M. Mcnamara sold 285,288 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $16.22, for a total value of $4,627,371.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Willy C. Shih sold 25,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $16.03, for a total value of $400,750.00. Following the completion of the sale, the director now owns 206,895 shares in the company, valued at $3,316,526.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,133,609 shares of company stock worth $18,584,817. 0.83% of the stock is currently owned by company insiders.

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).

Institutional Ownership by Quarter for Flextronics International (NASDAQ:FLEX)

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