Can confirm this bug persisted on my Thinkpad L430 with Xenial 16.04.1 with kernel 4.4.0.81. However, it was fixed by manually updating the kernel to the latest version (4.8.0.58) by running
sudo apt-get install --install-recommends xserver-xorg-hwe-16.04
Now, I don't see the flicker anymore. This thread was quite useful for the suggestions regarding updating the kernel.
Can confirm this bug persisted on my Thinkpad L430 with Xenial 16.04.1 with kernel 4.4.0.81. However, it was fixed by manually updating the kernel to the latest version (4.8.0.58) by running
sudo apt-get install --install- recommends xserver- xorg-hwe- 16.04
Now, I don't see the flicker anymore. This thread was quite useful for the suggestions regarding updating the kernel.