7,600 Shares in Celestica, Inc. $CLS Bought by AI Squared Management Ltd

AI Squared Management Ltd purchased a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,600 shares of the technology company’s stock, valued at approximately $1,872,000. Celestica accounts for about 1.9% of AI Squared Management Ltd’s portfolio, making the stock its 14th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Celestica during the 2nd quarter valued at about $236,069,000. SRS Investment Management LLC purchased a new stake in shares of Celestica in the second quarter worth about $135,289,000. Picton Mahoney Asset Management purchased a new stake in shares of Celestica in the second quarter worth about $90,425,000. Legal & General Group Plc grew its holdings in Celestica by 103.3% during the second quarter. Legal & General Group Plc now owns 743,570 shares of the technology company’s stock worth $115,961,000 after acquiring an additional 377,825 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Celestica by 25.8% during the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after acquiring an additional 375,910 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Activity at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares of the company’s stock, valued at $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of Celestica stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the sale, the president owned 108,970 shares in the company, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by company insiders.

Celestica Stock Down 6.1%

Shares of CLS opened at $249.58 on Friday. The firm has a market cap of $28.71 billion, a P/E ratio of 34.76 and a beta of 1.88. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The stock’s 50 day moving average is $295.88 and its two-hundred day moving average is $284.45. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CLS shares. Aletheia Capital boosted their price target on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. TD Cowen reaffirmed a “hold” rating on shares of Celestica in a research note on Friday, January 30th. Barclays lifted their target price on shares of Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Canaccord Genuity Group boosted their target price on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $356.59.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.