Franklin Resources Inc. Grows Position in Celestica Inc. (NYSE:CLS)

Franklin Resources Inc. raised its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 290.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,080,568 shares of the technology company's stock after purchasing an additional 803,780 shares during the period. Franklin Resources Inc. owned 0.93% of Celestica worth $99,735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CLS. Whale Rock Capital Management LLC grew its stake in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock worth $432,846,000 after acquiring an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after purchasing an additional 1,401,877 shares during the period. Norges Bank bought a new position in Celestica during the fourth quarter worth about $139,008,000. Point72 Asset Management L.P. increased its stake in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company's stock worth $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Celestica in the fourth quarter valued at approximately $47,685,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

CLS has been the subject of a number of recent research reports. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Stifel Nicolaus raised their price target on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. assumed coverage on Celestica in a research report on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Canaccord Genuity Group increased their price objective on Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, TD Securities lifted their target price on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Two equities 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $110.83.

Insider Buying and Selling

In other Celestica news, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the transaction, the president now directly owns 175,426 shares of the company's stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company's stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company's stock.

Celestica Price Performance

CLS stock traded down $3.07 during midday trading on Friday, reaching $66.12. The company had a trading volume of 9,751,663 shares, compared to its average volume of 2,948,531. The firm has a 50-day moving average price of $103.62 and a 200-day moving average price of $89.39. The company has a market capitalization of $7.67 billion, a P/E ratio of 17.68 and a beta of 2.09. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Celestica 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.