Flex Ltd. $FLEX Shares Acquired by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 1,149.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 168,120 shares of the technology company’s stock after buying an additional 154,666 shares during the quarter. Flex accounts for approximately 2.4% of Lingohr Asset Management GmbH’s holdings, making the stock its 7th largest holding. Lingohr Asset Management GmbH’s holdings in Flex were worth $9,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLEX. OneAscent Investment Solutions LLC purchased a new stake in shares of Flex during the third quarter valued at approximately $621,000. Winnow Wealth LLC acquired a new stake in Flex during the 3rd quarter valued at $1,058,000. Townsquare Capital LLC grew its holdings in Flex by 8.7% during the 3rd quarter. Townsquare Capital LLC now owns 64,799 shares of the technology company’s stock valued at $3,756,000 after purchasing an additional 5,209 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Flex during the 3rd quarter worth $640,000. Finally, Archer Investment Corp lifted its holdings in Flex by 12.2% in the 3rd quarter. Archer Investment Corp now owns 3,421 shares of the technology company’s stock worth $198,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLEX. Argus set a $85.00 target price on Flex in a research report on Friday, October 31st. Jefferies Financial Group restated a “hold” rating and set a $23.00 price objective on shares of Flex in a report on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Bank of America lifted their price target on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, KeyCorp increased their price objective on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.11.

Flex Stock Performance

Flex stock opened at $63.04 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22. The company has a fifty day moving average price of $63.22 and a two-hundred day moving average price of $58.81. The company has a market cap of $23.31 billion, a PE ratio of 27.89, a P/E/G ratio of 1.73 and a beta of 1.24.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total value of $933,150.00. Following the transaction, the insider owned 211,198 shares of the company’s stock, valued at $13,138,627.58. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Krumm sold 21,406 shares of Flex stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the transaction, the chief financial officer owned 143,803 shares of the company’s stock, valued at approximately $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 101,406 shares of company stock valued at $6,129,539 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.