Cookson Peirce & Co. Inc. Reduces Position in Flex Ltd. (NASDAQ:FLEX)

Cookson Peirce & Co. Inc. lowered its holdings in Flex Ltd. (NASDAQ:FLEX) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,134,565 shares of the technology company’s stock after selling 17,816 shares during the quarter. Flex makes up approximately 2.1% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 11th largest holding. Cookson Peirce & Co. Inc.’s holdings in Flex were worth $34,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new stake in Flex during the 3rd quarter worth about $30,000. Quarry LP purchased a new stake in Flex during the 1st quarter worth about $38,000. Fifth Third Bancorp lifted its holdings in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Flex during the 3rd quarter worth about $65,000. Finally, Farther Finance Advisors LLC lifted its holdings in Flex by 76.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,337 shares of the technology company’s stock worth $65,000 after purchasing an additional 1,016 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

Shares of NASDAQ FLEX traded up $0.16 during trading hours on Tuesday, reaching $28.24. 1,869,997 shares of the stock traded hands, compared to its average volume of 5,019,477. The company has a market capitalization of $11.89 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93. The company’s 50-day simple moving average is $28.20 and its two-hundred day simple moving average is $26.69.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. Equities research analysts forecast that Flex Ltd. will post 2.16 EPS for the current year.

Insider Activity at Flex

In related news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the transaction, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,943 shares of company stock valued at $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, StockNews.com started coverage on Flex in a report on Wednesday, March 6th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.