Royal London Asset Management Ltd. boosted its holdings in Flex Ltd (NASDAQ:FLEX) by 49.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,214 shares of the technology company’s stock after purchasing an additional 108,625 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of Flex worth $8,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FLEX. Janus Henderson Group PLC grew its position 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 valued at $631,547,000 after acquiring an additional 10,577,317 shares during the period. Thompson Siegel & Walmsley LLC grew its position 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 valued at $86,737,000 after acquiring an additional 2,444,209 shares during the period. Wells Fargo & Company MN grew its position in shares of Flex by 33.9% in the 3rd quarter. Wells Fargo & Company MN now owns 7,551,662 shares of the technology company’s stock valued at $99,079,000 after acquiring an additional 1,910,341 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Flex by 2,570.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,492,826 shares of the technology company’s stock valued at $21,064,000 after acquiring an additional 1,436,925 shares during the period. Finally, Factory Mutual Insurance Co. grew its position in shares of Flex by 57.0% in the 3rd quarter. Factory Mutual Insurance Co. now owns 3,347,300 shares of the technology company’s stock valued at $43,916,000 after acquiring an additional 1,215,500 shares during the period. 96.16% of the stock is owned by institutional investors and hedge funds.

In other Flex news, EVP David Scott Offer acquired 27,027 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was acquired at an average price of $7.48 per share, for a total transaction of $202,161.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Shares of FLEX stock opened at $8.05 on Wednesday. The stock has a market cap of $4.24 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.94 and a beta of 1.52. The company has a quick ratio of 0.69, a current ratio of 1.23 and a debt-to-equity ratio of 1.07. Flex Ltd has a 52 week low of $6.74 and a 52 week high of $19.71.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Flex had a net margin of 1.15% and a return on equity of 9.83%. The business had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.81 billion. On average, research analysts forecast that Flex Ltd will post 0.82 EPS for the current year.

Flex announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Several brokerages recently commented on FLEX. BidaskClub downgraded shares of Flex from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 1st. Zacks Investment Research raised shares of Flex from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine downgraded shares of Flex from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Needham & Company LLC downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, Argus downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.94.

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Flex Profile

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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