Sierra Summit Advisors LLC Makes New Investment in Celestica Inc. (NYSE:CLS)

Sierra Summit Advisors LLC bought a new position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,883 shares of the technology company's stock, valued at approximately $543,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance increased its position in shares of Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock valued at $2,731,000 after purchasing an additional 79 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after buying an additional 89 shares in the last quarter. Pinpoint Asset Management Ltd raised its stake in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after buying an additional 182 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Celestica by 43.6% in the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company's stock valued at $88,000 after buying an additional 288 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in shares of Celestica during the 4th quarter worth about $30,000. 67.38% of the stock is currently owned by institutional investors.

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Celestica Trading Down 4.9 %

Shares of CLS stock traded down $4.01 on Thursday, reaching $78.05. 2,796,255 shares of the stock were exchanged, compared to its average volume of 3,019,125. 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 Inc. has a one year low of $40.25 and a one year high of $144.27. The stock has a market cap of $9.05 billion, a PE ratio of 20.99 and a beta of 2.09. The stock has a 50 day moving average price of $100.65 and a 200 day moving average price of $89.70.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CLS shares. Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. CIBC upgraded 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. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven 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 an average rating of "Moderate Buy" and an average price target of $110.83.

Insider Transactions at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction on Friday, January 31st. The shares were 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 trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares of the company's stock, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their position. 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.