Insider Activity to Watch: Flextronics International Ltd (FLEX)

Flextronics International Ltd (NASDAQ:FLEX) insider has recently participated in insider trading activity. Chief Executive Officer, MCNAMARA MICHAEL M sold 250,000 shares for $2,529,525 via one transaction Feb 10. Following the transaction, the insider now owns 2,934,091 shares in total, priced at $30837296.41 as of Tuesday. Another notable insider trading was done by the same insider on Feb 03. MCNAMARA MICHAEL M sold 250,000 shares at an average price of $10.00 for a total of $2,498,975. Moreover, GLENVIEW CAPITAL MANAGEMENT, L, 10% Owner carried out a sale of 272,500 shares at $10.21 each on Feb 02. The transaction amounted to $2,783,315. Director, WATKINS WILLIAM D sold 30,000 shares for $330,153 through one transaction Dec 09. Following this sale, this insider’s stake in the company comprises 54,629 shares, priced at $574150.79 as of Tuesday.

The stock has experienced a total of 8 insider trades in the past three months. These trades include 5 sell activities and 3 buy trades. Furthermore, over the past 12 months, the stock was traded 111 times by insiders. In 77 of these trades, the insider was a seller while an employee of the company was the buyer in thirty four instances.

On February 3, 2016, Enable Injections Inc., has entered into a product development and manufacturing partnership with Flextronics International Ltd (FLEX), the global sketch-to-scale solutions company that designs and builds intelligent products for a connected world.

As part of the deal, Enable Injections and Flex will collaborate on the design, development and production of customized wearable injector systems for pharmaceutical company products and clinical trials.

In Separate news, on January 28, 2016, Flextronics International Ltd (FLEX) announced results for its third quarter ended December 31, 2015.

Flex’s net sales for the third quarter ended December 31, 2015 were approximately $6.8 billion, at the high end of its previously provided revenue guidance range of $6.2 billion to $6.8 billion. The Company’s adjusted earnings per diluted share of $0.35 was above the Company’s previously provided guidance range of $0.28 to $0.34 and represents the all – time highest quarterly adjusted EPS for the Company.

Third quarter adjusted operating income increased 20% sequentially, and 14% year-over-year, to $236 million and was above the guidance range of $195 to $235 million. Adjusted operating margin expanded 40 basis points sequentially, and 60 basis points year-over-year, to 3.5%.

Flextronics International Ltd. (FLEX) is a leading sketch-to-scale™ solutions company that designs and builds intelligent products for a connected world. With approximately 200,000 professionals across 30 countries and a promise to help the world Live smarter™, the company provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets.