Lingohr Asset Management GmbH Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Lingohr Asset Management GmbH bought a new position in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,379 shares of the technology company’s stock, valued at approximately $517,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Flex during the fourth quarter valued at about $32,293,000. Mutual of America Capital Management LLC acquired a new position in shares of Flex during the fourth quarter valued at about $7,864,000. State of Alaska Department of Revenue acquired a new position in shares of Flex during the fourth quarter valued at about $1,697,000. One Wealth Advisors LLC acquired a new position in shares of Flex during the fourth quarter valued at about $368,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after acquiring an additional 296,505 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 3.3 %

Flex stock opened at $35.95 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The stock’s 50 day simple moving average is $39.86 and its two-hundred day simple moving average is $37.30. The firm has a market cap of $13.77 billion, a PE ratio of 14.50, a P/E/G ratio of 2.43 and a beta of 1.07.

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

Analyst Ratings Changes

Several research firms have recently issued reports on FLEX. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus started coverage on Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Barclays upped their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flex has a consensus rating of “Buy” and a consensus target price of $44.33.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Company 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.