Lingohr Asset Management GmbH Acquires 154,666 Shares of Flex Ltd. $FLEX

Lingohr Asset Management GmbH grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 1,149.6% during the third quarter, Holdings Channel.com reports. 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 portfolio, making the stock its 7th biggest position. Lingohr Asset Management GmbH’s holdings in Flex were worth $9,746,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FLEX. MTM Investment Management LLC bought a new position in Flex in the 2nd quarter valued at about $26,000. Concord Wealth Partners acquired a new stake in shares of Flex in the 2nd quarter worth approximately $28,000. CNB Bank bought a new stake in Flex during the second quarter worth approximately $30,000. Harbour Investments Inc. raised its holdings in Flex by 74.7% during the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after purchasing an additional 301 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Flex by 404.3% in the second quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after purchasing an additional 566 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

FLEX stock opened at $63.04 on Friday. The firm has a 50 day simple moving average of $63.22 and a 200 day simple moving average of $58.81. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $72.22. The stock has a market cap of $23.31 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the director directly owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This represents a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Krumm sold 21,406 shares of Flex stock in a transaction 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 sale, the chief financial officer directly 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,406 shares of company stock valued at $6,129,539 in the last three months. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLEX shares. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Argus set a $85.00 target price on shares of Flex in a research report on Friday, October 31st. KeyCorp upped their price target on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.11.

About Flex

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.