Celestica Inc. (NYSE:CLS) is Portolan Capital Management LLC's 2nd Largest Position

Portolan Capital Management LLC decreased its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 626,941 shares of the technology company's stock after selling 104,005 shares during the quarter. Celestica makes up approximately 3.9% of Portolan Capital Management LLC's portfolio, making the stock its 2nd biggest position. Portolan Capital Management LLC owned 0.54% of Celestica worth $57,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLS. Cahaba Wealth Management Inc. bought a new position in Celestica in the 4th quarter valued at approximately $227,000. Mariner LLC lifted its holdings in Celestica by 41.0% during the 4th quarter. Mariner LLC now owns 15,794 shares of the technology company's stock worth $1,459,000 after buying an additional 4,593 shares during the period. Barclays PLC grew its position in shares of Celestica by 32.9% in the 4th quarter. Barclays PLC now owns 68,886 shares of the technology company's stock valued at $6,359,000 after buying an additional 17,038 shares during the last quarter. Seeds Investor LLC acquired a new stake in shares of Celestica in the fourth quarter valued at about $346,000. Finally, Townsquare Capital LLC lifted its stake in shares of Celestica by 61.3% in the fourth quarter. Townsquare Capital LLC now owns 6,369 shares of the technology company's stock worth $588,000 after acquiring an additional 2,421 shares during the period. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of analyst reports. CIBC lowered their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Royal Bank of Canada raised their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. TD Securities increased their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $103.25.

Celestica Stock Performance

CLS stock traded up $3.56 during midday trading on Friday, reaching $84.12. 5,273,486 shares of the company's stock traded hands, compared to its average volume of 3,096,858. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27. The company has a 50-day moving average price of $94.54 and a two-hundred day moving average price of $90.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market capitalization of $9.75 billion, a PE ratio of 22.49 and a beta of 2.09.

Insiders Place Their Bets

In related news, insider Yann L. Etienvre sold 83,179 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the completion of the transaction, the insider now owns 9,224 shares of the company's stock, valued at approximately $1,127,910.72. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 91,490 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $11,187,397.20. Following the completion of the transaction, the president now directly owns 175,426 shares of the company's stock, valued at approximately $21,451,091.28. The trade was a 34.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 934,381 shares of company stock worth $116,673,769 in the last quarter. 1.00% of the stock is owned by company insiders.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.