Sharpepoint LLC Reduces Stake in Celestica, Inc. $CLS

Sharpepoint LLC lowered its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 36.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,597 shares of the technology company’s stock after selling 6,721 shares during the quarter. Celestica makes up 2.6% of Sharpepoint LLC’s investment portfolio, making the stock its 16th largest position. Sharpepoint LLC’s holdings in Celestica were worth $2,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Private Management Group Inc. bought a new stake in shares of Celestica during the third quarter valued at about $567,000. Compass Wealth Management LLC GA purchased a new position in Celestica during the third quarter valued at approximately $493,000. Glenmede Investment Management LP purchased a new position in Celestica during the third quarter valued at approximately $1,050,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Celestica by 66.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 449,128 shares of the technology company’s stock worth $110,497,000 after acquiring an additional 178,983 shares during the period. Finally, Marshall Wace LLP increased its holdings in Celestica by 1,249.0% during the 3rd quarter. Marshall Wace LLP now owns 278,928 shares of the technology company’s stock worth $68,722,000 after acquiring an additional 258,251 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Down 0.4%

Shares of CLS stock opened at $263.83 on Friday. The business has a 50-day moving average price of $292.58 and a two-hundred day moving average price of $286.54. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm has a market cap of $30.35 billion, a P/E ratio of 36.75 and a beta of 1.88.

Insider Activity at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the transaction, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CLS. Aletheia Capital raised their price target on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. TD Securities upped their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Barclays increased their price objective on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Wolfe Research upgraded Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.24.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.