Lingohr Asset Management GmbH Takes Position in Flex Ltd. (NASDAQ:FLEX)

Lingohr Asset Management GmbH acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,379 shares of the technology company's stock, valued at approximately $517,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock valued at $898,389,000 after acquiring an additional 344,773 shares during the last quarter. Boston Partners grew its stake in shares of Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after purchasing an additional 569,916 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock valued at $237,216,000 after purchasing an additional 31,214 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock valued at $202,152,000 after buying an additional 296,505 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after buying an additional 3,844,935 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company's stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on FLEX. Barclays upped their price target on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Stifel Nicolaus initiated coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price for the company. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $44.33.

Flex Stock Up 2.8 %

FLEX traded up $1.02 during trading on Monday, reaching $37.42. The company had a trading volume of 2,328,668 shares, compared to its average volume of 3,772,303. The company has a market cap of $14.34 billion, a P/E ratio of 15.09, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The business's fifty day moving average price is $39.68 and its 200 day moving average price is $37.41.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.