Fmr LLC Purchases 5,574,342 Shares of Celestica Inc. (NYSE:CLS)

FMR LLC raised its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 91.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,688,700 shares of the technology company's stock after purchasing an additional 5,574,342 shares during the period. FMR LLC owned 10.05% of Celestica worth $1,078,804,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CLS. Janus Henderson Group PLC raised its position in Celestica by 10.5% during the third quarter. Janus Henderson Group PLC now owns 37,467 shares of the technology company's stock valued at $1,919,000 after acquiring an additional 3,545 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Celestica by 2,107.2% during the 3rd quarter. Stifel Financial Corp now owns 107,379 shares of the technology company's stock worth $5,489,000 after purchasing an additional 102,514 shares during the last quarter. State Street Corp bought a new position in shares of Celestica during the 3rd quarter valued at $452,000. XTX Topco Ltd acquired a new stake in shares of Celestica in the 3rd quarter valued at $1,580,000. Finally, MML Investors Services LLC boosted its holdings in Celestica by 274.0% in the third quarter. MML Investors Services LLC now owns 27,328 shares of the technology company's stock worth $1,397,000 after purchasing an additional 20,022 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Celestica Stock Performance

Shares of CLS traded up $3.23 on Friday, reaching $79.71. 2,568,570 shares of the stock traded hands, compared to its average volume of 3,031,720. The stock's 50-day moving average price is $99.77 and its 200-day moving average price is $89.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 21.49 and a beta of 2.09. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This represents a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 52,588 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 934,381 shares of company stock worth $116,673,769. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price objective for the company. Finally, TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.83.

About Celestica

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.