PRIMECAP Management Amends Flex Ltd. Stake (SC 13G/A)

TL;DR

**PRIMECAP Management still holds a big chunk of FLEX, signaling long-term institutional confidence.**

AI Summary

PRIMECAP Management Company, an investment adviser based in Pasadena, CA, filed an amended SC 13G/A on February 12, 2024, indicating its ownership of Flex Ltd. (FLEX) shares as of December 31, 2023. This is the 16th amendment to their filing, showing their continued significant, but passive, investment in the company. This matters to investors as it signals a long-term institutional holder's ongoing confidence in Flex Ltd., potentially providing a stable base for the stock.

Why It Matters

This filing confirms a major institutional investor, PRIMECAP Management Company, maintains a significant, passive stake in Flex Ltd., suggesting continued confidence in the company's long-term prospects.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company fundamentals.

Analyst Insight

Investors should view this as a routine update confirming continued institutional interest in Flex Ltd. It doesn't signal an immediate buy or sell, but rather reinforces the existing ownership structure. Smart investors might use this to confirm long-term institutional backing when evaluating FLEX.

Key Numbers

• 16 — Amendment Number (This is the 16th amendment to PRIMECAP Management Company's Schedule 13G filing for Flex Ltd., indicating a long history of reporting their stake.)
• Y2573F102 — CUSIP Number (Identifies the specific class of securities (COM) of Flex Ltd. being reported.)
• 0000763212 — PRIMECAP Management CIK (Central Index Key for the reporting entity, PRIMECAP Management Company.)
• 0000866374 — Flex Ltd. CIK (Central Index Key for the subject company, Flex Ltd.)

Key Players & Entities

• PRIMECAP Management Company (company) — the reporting person and institutional investor
• Flex Ltd. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A
• Pasadena, CA (company) — PRIMECAP Management Company's business location
• Singapore (company) — Flex Ltd.'s business location

Forward-Looking Statements

• PRIMECAP Management Company will continue to hold a significant, passive stake in Flex Ltd. (Flex Ltd.) — high confidence, target: December 31, 2024
• Flex Ltd. stock will likely experience continued stability from its institutional ownership base. (Flex Ltd.) — medium confidence, target: June 30, 2024

FAQ

Filing Documents

• flexa16_21224.htm (SC 13G/A) — 25KB
• 0001085146-24-001090.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: Flex Ltd.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 2 Changi South Lane, Singapore 486123, Singapore

(a)

ITEM 2(a). NAME OF PERSON FILING: PRIMECAP Management Company

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 177 E. Colorado Blvd., 11th Floor, Pasadena, CA 91105

(c)

ITEM 2(c). CITIZENSHIP: U.S.A.

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: COM

(e)

ITEM 2(e). CUSIP NUMBER: Y2573F102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 45,139,254 (b) Percent of class: 10.42% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 43,045,051 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 45,139,254 (iv) shared power to dispose or to direct the disposition of: 0 ITEM 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of secur

View Full Filing

View this SC 13G/A filing on SEC EDGAR