Cookson Peirce & Co. Inc. Has $34.56 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Cookson Peirce & Co. Inc. trimmed its stake in Flex Ltd. (NASDAQ:FLEX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,565 shares of the technology company’s stock after selling 17,816 shares during the period. Flex comprises about 2.1% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 11th biggest position. Cookson Peirce & Co. Inc. owned about 0.26% of Flex worth $34,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ardsley Advisory Partners LP lifted its holdings in Flex by 11.5% during the 3rd quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock valued at $10,617,000 after purchasing an additional 40,500 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Flex during the 4th quarter valued at about $2,909,000. Legal & General Group Plc lifted its holdings in Flex by 9.3% during the 3rd quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock valued at $61,836,000 after purchasing an additional 195,447 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Flex by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after purchasing an additional 302,086 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Flex by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 589 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total value of $231,257.87. Following the completion of the transaction, the insider now owns 159,718 shares in the company, valued at $4,601,475.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the transaction, the insider now owns 159,718 shares of the company’s stock, valued at approximately $4,601,475.58. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock worth $4,055,311 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Flex Trading Up 0.6 %

Shares of FLEX traded up $0.16 on Tuesday, reaching $28.24. 1,869,997 shares of the company’s stock were exchanged, compared to its average volume of 5,019,477. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The stock 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 business has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $26.69. Flex Ltd. has a 12 month low of $19.44 and a 12 month high of $30.93.

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

About Flex

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.