Dynamic Technology Lab Private Ltd Takes $606,000 Position in Celestica, Inc. $CLS

Dynamic Technology Lab Private Ltd acquired a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,460 shares of the technology company’s stock, valued at approximately $606,000.

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

Analyst Ratings Changes

A number of brokerages recently commented on CLS. TD Cowen restated a “hold” rating on shares of Celestica in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 target price on shares of Celestica in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group boosted their price objective on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $356.59.

Insiders Place Their Bets

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Jason Phillips sold 100,000 shares of the firm’s 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 completion of the transaction, the president owned 12,584 shares in the company, valued at $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 297,923 shares of company stock valued at $88,027,459 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Celestica Stock Up 0.4%

Shares of NYSE:CLS opened at $269.08 on Wednesday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a market cap of $30.96 billion, a PE ratio of 37.48 and a beta of 1.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The firm has a 50 day simple moving average of $294.56 and a 200 day simple moving average of $286.33.

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.