Analysts at Goldman Sachs Group Inc. upgraded shares of Flextronics International Ltd. (NASDAQ: FLEX) from Neutral to Buy today. The company currently has a rating of Buy on the stock. The one-year price target of $14.29 is higher than the opening price of $13.34, resulting a fair amount of other analysts to comment on the stock recently. Looking back over the last 52 weeks, Flextronics International Ltd. stock has a high of $13.49. Usually, after analysts publish an upgrade report on a stock, they will later issue sporadic updates, usually followed by a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Flextronics International Ltd. (NASDAQ: FLEX) opened at $13.34 yesterday trading between $13.02 and $13.49, and last traded at $13.13, which is an increase of $0.06 compared to the previous closing price.
Flextronics International Ltd. (NASDAQ: FLEX) currently has a market cap of 7.17B.
The stock’s average daily volume is 4,599,820 shares out of a total float 493,933,000 and some 5,718,089 shares traded hands yesterday, 76 percent above the norm. Excessive volume accumulation by institutional investors may be on the horizon as the combination of significant increases in trading volume and price appreciation can be deciding components.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Flextronics International Ltd. (NASDAQ: FLEX) now has a 50-day MA of $12.88 and 200-day MA of $12.44. It has traded in a 52-week range between $8.85 – 13.49 and today’s last price is 0.03% lower than the 52 week high of $13.49.
Earnings growth is an important factor to research when buying stocks and investors watch for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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