AIA Group Ltd Invests $1.75 Million in Celestica, Inc. $CLS

AIA Group Ltd purchased a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,102 shares of the technology company’s stock, valued at approximately $1,750,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLS. Arrowstreet Capital Limited Partnership increased its position in Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after buying an additional 2,596,318 shares in the last quarter. Viking Global Investors LP purchased a new position in Celestica in the 3rd quarter worth approximately $424,459,000. Norges Bank purchased a new position in Celestica in the 2nd quarter worth approximately $236,069,000. SRS Investment Management LLC bought a new position in Celestica in the 2nd quarter valued at approximately $135,289,000. Finally, Picton Mahoney Asset Management purchased a new stake in Celestica during the 2nd quarter valued at $90,425,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 5.5%

Shares of NYSE CLS opened at $268.69 on Friday. The business’s 50 day moving average is $290.27 and its two-hundred day moving average is $289.15. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The firm has a market cap of $30.91 billion, a price-to-earnings ratio of 37.42 and a beta of 1.88. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLS. Bank of America began coverage on Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price objective on the stock. Wolfe Research raised Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. TD Securities upped their target price on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Citigroup dropped their price target on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $400.00 price objective on shares of Celestica in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.24.

Insider Activity

In other Celestica news, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. The disclosure for this sale is available in the SEC filing. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last ninety days. 0.52% of the stock is currently owned by company insiders.

Celestica Profile

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.