Lingohr & Partner Asset Management GmbH Acquires 12,800 Shares of Flex Ltd (FLEX)
Lingohr & Partner Asset Management GmbH grew its holdings in Flex Ltd (NASDAQ:FLEX) by 14.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,600 shares of the technology company’s stock after buying an additional 12,800 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in Flex were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Flex by 30.9% in the 2nd quarter. Janus Henderson Group PLC now owns 44,757,280 shares of the technology company’s stock worth $631,547,000 after acquiring an additional 10,577,317 shares during the last quarter. Contour Asset Management LLC bought a new stake in shares of Flex in the 1st quarter worth about $91,302,000. BlackRock Inc. lifted its holdings in shares of Flex by 27.8% in the 1st quarter. BlackRock Inc. now owns 22,242,447 shares of the technology company’s stock worth $363,220,000 after acquiring an additional 4,844,002 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Flex by 412.0% in the 1st quarter. Wells Fargo & Company MN now owns 4,506,828 shares of the technology company’s stock worth $73,596,000 after acquiring an additional 3,626,538 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Flex by 66.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,147,245 shares of the technology company’s stock worth $86,737,000 after acquiring an additional 2,444,209 shares during the last quarter. 91.46% of the stock is owned by institutional investors and hedge funds.
In related news, President Douglas Britt sold 8,067 shares of Flex stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $14.28, for a total transaction of $115,196.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 1,939 shares of Flex stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $13.82, for a total transaction of $26,796.98. The disclosure for this sale can be found here. Insiders have sold a total of 619,916 shares of company stock valued at $8,915,939 in the last quarter. 0.88% of the stock is currently owned by company insiders.
Shares of FLEX opened at $12.94 on Friday. Flex Ltd has a 1-year low of $12.78 and a 1-year high of $19.71. The stock has a market cap of $7.03 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.24 and a quick ratio of 0.73.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Flex had a net margin of 1.62% and a return on equity of 14.02%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.50 billion. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. research analysts forecast that Flex Ltd will post 1.02 EPS for the current fiscal year.
Flex announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
Recommended Story: Should You Consider an Index Fund?
Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd (NASDAQ:FLEX).
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.