Stock to Watch: Flextronics International Ltd. (NASDAQ:FLEX)

[PR Newswire] Flextronics International Ltd. (NASDAQ:FLEX) (TREND ANALYSIS) There is a growing level of excitement about a new era of smart, connected devices and systems, but it’s not necessarily a top priority for companies, according to a new survey from Flextronics.

Today, the company launched a new print and digital publication to address this evolving ecosystem, and released key findings of a survey it commissioned to measure awareness and adoption of the Internet of Things (IoT) among business leaders across a wide range of industries.

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Flextronics International Ltd. (NASDAQ:FLEX) is currently trading 5.75% below its 52-week-high, 39.37% above its 52-week-low. The 1-year range for the stock is $8 – $11.83. Flextronics International Ltd. (FLEX) has a price to earnings ratio of 12.77 versus Nasdaq average of 17.22. The stock price has underperformed the Nasdaq by 3.7%. FLEX is currently valued at $6.45 billion and closed the last trading session at $10.57. The stock has a 50-day moving average of $10.92 and a 200-day moving average of $10.67.

Flextronics International Ltd. (FLEX) current short interest stands at 7.39 millions shares. It has increased by 6% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.85 millions shares, the number of days required to cover the short positions stand at 2 days.

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There are currently thirteen analysts that cover FLEX. Of those thirteen, four have a Buy rating, eight have a Hold rating and one has a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $11.91.

The most recent analyst activity consisted of Standpoint Research who initiated their coverage on the stock with a Buy rating on October 14. Standpoint Research fixed their price target at $12. This corresponds to a 13.53% upside from the last closing price. On the date of report, the stock closed at $8.8.

Another recent analyst activity consisted of UBS reiterating their Neutral stance on July 25. UBS decreased price target from $9.50 to $12. This corresponds to a 13.53% upside from the last closing price. On the date of report, the stock closed at $10.84.

A third research firm was RBC Capital Mkts who reiterated their Outperform stance on June 6. RBC Capital Mkts increased their price target on Flextronics from $11 to $12. This translates to a 13.53% upside from the last closing price. On the date of report, the stock closed at $10.99.

Company profile

Flextronics International Ltd. (NASDAQ:FLEX) provides design, manufacturing, and supply chain services to original equipment manufacturers worldwide. The company offers innovation services, such as innovations labs that provide global functional leadership; innovation café, which provides joint collaboration and development; LabIX, a startup accelerator program; and centers of excellence that includes human machine interface, wireless and connectivity, sensors and actuators, power and battery management, smart software, flexible technology, and computing and materials. It also provides design and engineering services, including contract design and joint development manufacturing services, which cover various technical competencies, such as system architecture, user interface and industrial design, mechanical engineering, technology, enclosure systems,etc.

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