Zurcher Kantonalbank Zurich Cantonalbank Buys 3,130 Shares of Celestica Inc. (NYSE:CLS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,132 shares of the technology company's stock after purchasing an additional 3,130 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Celestica were worth $2,781,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC grew its stake in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the 3rd quarter valued at $61,210,000. Point72 Asset Management L.P. raised its holdings in Celestica by 38.5% during 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 acquiring an additional 301,563 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company's stock valued at $27,413,000 after buying an additional 109,972 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Celestica in the fourth quarter valued at $47,685,000. Institutional investors and hedge funds own 67.38% of the company's stock.

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Celestica Price Performance

Shares of Celestica stock traded up $4.62 during trading on Wednesday, reaching $92.09. 2,939,350 shares of the company's stock were exchanged, compared to its average volume of 4,936,332. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 1-year low of $40.25 and a 1-year high of $144.27. The company has a market cap of $10.72 billion, a P/E ratio of 24.62 and a beta of 2.21. The firm's 50-day moving average price is $110.24 and its 200 day moving average price is $85.74.

Insider Activity

In other news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated 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 sale, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CLS shares. Stifel Nicolaus upped their target price on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Barclays increased their price target on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $110.83.

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.