Flex Ltd. (NASDAQ:FLEX) Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,309,654 shares of the technology company’s stock after selling 1,057 shares during the quarter. Flex comprises about 2.3% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 11th largest position. Cookson Peirce & Co. Inc. owned 0.34% of Flex worth $50,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC grew its position in Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after acquiring an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Geode Capital Management LLC increased its position in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp raised its holdings in Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after buying an additional 603,208 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent research reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Barclays upped their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $44.33.

Insider Buying and Selling

In related news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $35.01 on Wednesday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The stock has a market cap of $13.41 billion, a P/E ratio of 14.12, a PEG ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The firm has a 50-day moving average of $40.94 and a two-hundred day moving average of $37.15.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.