FMR LLC Amends Flex Ltd. Stake to 9.999%
Ticker: FLEX · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 866374
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, SC-13G, investor-update
TL;DR
**FMR LLC still owns nearly 10% of FLEX, showing continued institutional interest.**
AI Summary
FMR LLC, a major investment firm, has updated its ownership stake in Flex Ltd. (FLEX) through an SC 13G/A filing on February 9, 2024. FMR LLC and its principal owner, Abigail P. Johnson, now beneficially own 43,339,782 shares of Flex Ltd. common stock, representing 9.999% of the company. This is an amendment to a previous filing, indicating a change in their holdings, which is important for investors as large institutional ownership can influence stock stability and future performance.
Why It Matters
This filing shows that a significant institutional investor, FMR LLC, maintains a substantial stake in Flex Ltd., which can signal confidence in the company's long-term prospects and potentially reduce stock volatility.
Risk Assessment
Risk Level: low — The filing indicates a stable, large institutional ownership, which generally reduces risk for individual investors.
Analyst Insight
A smart investor would note FMR LLC's continued significant stake in Flex Ltd. as a sign of institutional confidence, but also monitor future filings for any substantial changes in ownership that could signal a shift in sentiment.
Key Numbers
- 43,339,782 — Shares Beneficially Owned (This is the total number of Flex Ltd. common shares FMR LLC and Abigail P. Johnson beneficially own.)
- 9.999% — Percentage of Class (This represents the percentage of Flex Ltd.'s common stock owned by FMR LLC and Abigail P. Johnson, indicating a significant stake.)
- 20240209 — Filing Date (This is the date the SC 13G/A amendment was filed, providing the most recent ownership information.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Flex Ltd. (company) — the issuer of the securities
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- 43,339,782 (dollar_amount) — number of shares beneficially owned
- 9.999% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant stake in Flex Ltd. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
- Flex Ltd.'s stock price will experience increased stability due to large institutional ownership. (Flex Ltd.) — medium confidence, target: 2024-08-09
FAQ
What is the primary purpose of this SC 13G/A filing by FMR LLC?
This SC 13G/A filing is an amendment (Amendment No.1) to a previous Schedule 13G, indicating a change in the beneficial ownership of Flex Ltd. common stock by FMR LLC and Abigail P. Johnson, filed on February 9, 2024.
How many shares of Flex Ltd. common stock does FMR LLC beneficially own according to this filing?
According to Item 4(a) of the filing, FMR LLC beneficially owns 43,339,782 shares of Flex Ltd. common stock.
What percentage of Flex Ltd.'s common stock does FMR LLC's beneficial ownership represent?
Item 11 of the filing states that FMR LLC's beneficial ownership represents 9.999% of Flex Ltd.'s common stock.
Who is Abigail P. Johnson, and what is her reported ownership in Flex Ltd. in this filing?
Abigail P. Johnson is also a reporting person. She is reported to beneficially own 43,339,782 shares, representing 9.999% of Flex Ltd. common stock, as she is the principal owner of FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the 'x' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FLEX LTD. (FLEX).