Cozad Asset Management Inc. Acquires 30,455 Shares of Flex Ltd. (NASDAQ:FLEX)

Cozad Asset Management Inc. raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,452 shares of the technology company’s stock after acquiring an additional 30,455 shares during the quarter. Flex makes up about 1.1% of Cozad Asset Management Inc.’s portfolio, making the stock its 21st biggest position. Cozad Asset Management Inc. owned approximately 0.07% of Flex worth $9,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FLEX. Cornerstone Planning Group LLC acquired a new position in Flex during the 3rd quarter valued at about $30,000. CWM LLC increased its holdings in shares of Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Flex in the 4th quarter worth approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Flex during the 4th quarter worth approximately $77,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Flex news, EVP David Scott Offer sold 75,000 shares of the 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 owns 162,094 shares in the company, valued at $4,460,826.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the sale, the insider now owns 161,913 shares of the company’s stock, valued at $4,531,944.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,943 shares of company stock worth $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Flex Stock Performance

NASDAQ FLEX traded down $0.25 on Tuesday, reaching $28.96. 2,327,404 shares of the company’s stock traded hands, compared to its average volume of 4,778,427. Flex Ltd. has a fifty-two week low of $19.85 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.81 and a beta of 1.20. The stock has a 50 day moving average price of $28.48 and a 200-day moving average price of $26.80.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. The business had revenue of $7.10 billion during 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 predict that Flex Ltd. will post 2.16 EPS for the current fiscal year.

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.