Knightsbridge Asset Management LLC Sells 64,911 Shares of Celestica Inc. (NYSE:CLS)

Knightsbridge Asset Management LLC lessened its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 75.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,129 shares of the technology company's stock after selling 64,911 shares during the period. Knightsbridge Asset Management LLC's holdings in Celestica were worth $1,950,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after buying an additional 5,574,342 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. FIL Ltd increased its holdings in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock valued at $319,662,000 after purchasing an additional 3,406,723 shares during the period. Invesco Ltd. lifted its position in shares of Celestica by 20.2% in the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after purchasing an additional 494,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock worth $200,601,000 after purchasing an additional 719,805 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Performance

CLS traded down $3.01 on Friday, hitting $89.13. The company had a trading volume of 6,937,107 shares, compared to its average volume of 3,126,830. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 23.83 and a beta of 2.09. 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 company's fifty day moving average price is $89.22 and its 200 day moving average price is $92.28. Celestica Inc. has a 1-year low of $40.25 and a 1-year high of $144.27.

Analyst Upgrades and Downgrades

CLS has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Celestica from $166.00 to $105.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. CIBC reduced their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on Celestica from $160.00 to $120.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays lifted their price target on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Insider Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 441,325 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 934,381 shares of company stock worth $116,673,769. 1.00% of the stock is owned by insiders.

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.