Cozad Asset Management Inc. Cuts Position in Flex Ltd. (NASDAQ:FLEX)

Cozad Asset Management Inc. decreased its position in Flex Ltd. (NASDAQ:FLEX) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,462 shares of the technology company’s stock after selling 4,716 shares during the quarter. Flex accounts for approximately 1.2% of Cozad Asset Management Inc.’s portfolio, making the stock its 19th largest position. Cozad Asset Management Inc. owned about 0.09% of Flex worth $13,147,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Natixis Advisors LLC increased its position in shares of Flex by 64.3% during the fourth quarter. Natixis Advisors LLC now owns 58,239 shares of the technology company’s stock worth $2,236,000 after acquiring an additional 22,797 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Flex during the fourth quarter worth $1,911,000. First Eagle Investment Management LLC increased its position in shares of Flex by 10.1% during the fourth quarter. First Eagle Investment Management LLC now owns 17,404 shares of the technology company’s stock worth $668,000 after acquiring an additional 1,600 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Flex by 12.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,313 shares of the technology company’s stock worth $1,432,000 after acquiring an additional 4,230 shares during the period. Finally, PGGM Investments increased its position in shares of Flex by 0.6% during the fourth quarter. PGGM Investments now owns 242,418 shares of the technology company’s stock worth $9,306,000 after acquiring an additional 1,385 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $34.49 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The company has a market capitalization of $13.21 billion, a PE ratio of 13.91, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a fifty day moving average of $40.19 and a two-hundred day moving average of $37.27.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $44.33.

Insider Transactions at Flex

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