Local Tech Wire

MORRISVILLE, N.C. – Legend Holdings, the parent firm of Lenovo, recently increased its ownership stake in the world’s No. 4 PC maker to over 43 percent with two recent stock buybacks.

According to the China Xinhua news service, Legend bought 5.3 million shares of Lenovo stock last week at an average price of just over 50 cents each – or $4.143 each in Hong Kong dollars.

On Monday, Legend repurchased another 2.312 million shares, Xinhua reported.

Lenovo shares are traded on the Hong Kong stock exchange.

The company has reported three consecutive profitable quarters, increased global market share and continues to launch new products. It recently unveiled a smartphone in China and last week disclosed a forthcoming laptop equipped with 3D technology.

Legend, which is based in China, bought 52.76 million shares in January, the news service said.

Lenovo’s global headquarters are located in Morrisville, but most of its operations and largest market presence are in China.

Get the latest news alerts: at Twitter.