Why Wellington Management Group Llp Reported Flex Ltd Position?

August 10, 2018 - By Mary Kidd

Flex Ltd. (NASDAQ:FLEX) LogoInvestors sentiment increased to 1.14 in 2018 Q1. Its up 0.33, from 0.81 in 2017Q4. It increased, as 30 investors sold Flex Ltd. shares while 102 reduced holdings. 53 funds opened positions while 97 raised stakes. 488.10 million shares or 2.75% less from 501.93 million shares in 2017Q4 were reported.

Jennison Llc stated it has 8.31 million shares. 1.42 million are owned by Northern Trust Corp. 109,804 are owned by Willingdon Wealth Mngmt. South Street Advsrs Limited Liability Company has 256,230 shares for 0.41% of their portfolio. Iridian Asset Management Limited Liability Corporation Ct holds 0.84% of its portfolio in Flex Ltd. (NASDAQ:FLEX) for 5.73 million shares. National Bank & Trust Of America Corp De, North Carolina-based fund reported 6.58 million shares. Reynders Mcveigh Capital Lc stated it has 163 shares. Lpl Llc holds 0% or 70,883 shares in its portfolio. Cohen Klingenstein Ltd, New York-based fund reported 52,695 shares. California Employees Retirement Sys invested in 0.04% or 1.53M shares. Services Automobile Association reported 1.47 million shares stake. Regent Management Limited Co, Kentucky-based fund reported 12,950 shares. First Quadrant L P Ca owns 1,042 shares or 0% of their US portfolio. Cipher Cap Limited Partnership owns 0.23% invested in Flex Ltd. (NASDAQ:FLEX) for 115,362 shares. 892,647 are owned by Parametric Port Assocs Ltd Liability Co.

Since April 20, 2018, it had 0 insider purchases, and 21 sales for $10.76 million activity. 3,100 shares were sold by Bennett David P, worth $44,424. 56,784 Flex Ltd. (NASDAQ:FLEX) shares with value of $851,760 were sold by Britt Douglas. On Tuesday, June 19 Collier Christopher sold $713,459 worth of Flex Ltd. (NASDAQ:FLEX) or 49,217 shares. $144,642 worth of Flex Ltd. (NASDAQ:FLEX) was sold by Barbier Francois. MCNAMARA MICHAEL M sold $648,714 worth of Flex Ltd. (NASDAQ:FLEX) on Wednesday, June 27. $5,345 worth of Flex Ltd. (NASDAQ:FLEX) was sold by Tan Lay Koon.

The New Wellington Management Group Llp Holding in Flex Ltd

Wellington Management Group Llp reported SC 13G/A form with the SEC for Flex Ltd. Access it here: 000090221918000485. As reported by Wellington Management Group Llp, the filler owns 10.04% or 53,486,344 shares of the Information Technology–company.

Flex Ltd stake is new for [reportingPerson]. Date of activity: July 31, 2018. This shows Wellington Management Group Llp’s positive view for Flex Ltd. For a institutional investor managing $826.00 billion in assets and having 1540+ experts this is interesting position.

Flex Ltd Institutional Sentiment

Filings show 257 investors own Flex Ltd. The ownership in Q3 2017 is very high, at Infinity of the outstanding shares. This is increased by 38024539. 497193887 were owned by these investors. 38 funds opened new Flex Ltd stakes, 90 increased positions. There were 33 that closed positions and 106 reduced them.

7 investors had the stock in their top 10. Some are: Clear Harbor Asset Management Llc, Livforsakringsbolaget Skandia Omsesidigt, Contour Asset Management Llc, Simcoe Capital Management Llc, Corsair Capital Management L.P., Glenview Capital Management Llc..

Lesa Sroufe & Co is an investor bullish on Flex Ltd, owning 330854 shares as of Q3 2017 for 4.80% of its portfolio. First Republic Investment Management Inc owns 378671 shares or 0.05% of its portfolio. AL Birmingham Capital Management Co Inc have 0.26% of its portfolio for 39650 shares. Further, Dreman Value Management Llc reported stake worth less than 0.01% of its portfolio. The NJ Advisors Capital Management Llc owns 431018 shares. Flex Ltd is 0.58% of its portfolio.

SEC Form 13G.

Wellington Management Group Llp website.

Analysts await Flex Ltd. (NASDAQ:FLEX) to report earnings on October, 25. They expect $0.22 earnings per share, down 42.11 % or $0.16 from last year’s $0.38 per share. FLEX’s profit will be $117.21M for 15.70 P/E if the $0.22 EPS becomes a reality. After $0.22 actual earnings per share reported by Flex Ltd. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

The stock decreased 0.72% or $0.1 during the last trading session, reaching $13.82. About 1.40M shares traded. Flex Ltd. (NASDAQ:FLEX) has declined 18.33% since August 10, 2017 and is downtrending. It has underperformed by 30.90% the S&P500.

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. The company has market cap of $7.36 billion. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables clients to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies. It has a 17.27 P/E ratio. The firm also provides design and engineering services, including contract design and joint development manufacturing services, which cover various technical competencies, such as system architecture, user interface and industrial design, mechanical engineering, technology, enclosure systems, thermal and tooling design, electronic system design, reliability and failure analysis, and component level development engineering; and systems assembly and manufacturing services.

Flex Ltd. (NASDAQ:FLEX) Ratings Coverage

Among 5 analysts covering Flex Ltd (NASDAQ:FLEX), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Flex Ltd has $19 highest and $16 lowest target. $17.67’s average target is 27.86% above currents $13.82 stock price. Flex Ltd had 6 analyst reports since April 27, 2018 according to SRatingsIntel. Stifel Nicolaus maintained Flex Ltd. (NASDAQ:FLEX) on Friday, April 27 with “Buy” rating. UBS maintained the shares of FLEX in report on Friday, May 11 with “Buy” rating. The firm has “Hold” rating given on Friday, April 27 by Raymond James. Citigroup maintained the shares of FLEX in report on Monday, April 30 with “Buy” rating. The stock of Flex Ltd. (NASDAQ:FLEX) earned “Buy” rating by Standpoint Research on Monday, June 18.

Another recent and important Flex Ltd. (NASDAQ:FLEX) news was published by Nasdaq.com which published an article titled: “Mike Dennison to Join Fox Factory Holding Corp. as President, Powered Vehicles Group” on August 07, 2018.

Flex Ltd. (NASDAQ:FLEX) Ratings Chart

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