Silver Oak Securities Incorporated Takes $1.22 Million Position in Celestica, Inc. $CLS

Silver Oak Securities Incorporated acquired a new stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,065 shares of the technology company’s stock, valued at approximately $1,217,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CLS. Allianz Asset Management GmbH lifted its position in shares of Celestica by 7.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock worth $83,044,000 after purchasing an additional 22,863 shares during the period. Spark Investment Management LLC increased its holdings in Celestica by 17.4% during the third quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company’s stock valued at $6,643,000 after buying an additional 4,000 shares during the period. Light Street Capital Management LLC purchased a new position in Celestica during the second quarter valued at approximately $26,422,000. William Blair Investment Management LLC bought a new position in Celestica in the third quarter worth approximately $28,924,000. Finally, Plato Investment Management Ltd raised its stake in Celestica by 154.5% in the third quarter. Plato Investment Management Ltd now owns 15,046 shares of the technology company’s stock worth $3,676,000 after buying an additional 9,135 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Celestica news, insider Yann L. Etienvre sold 86,229 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $24,786,526.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the completion of the sale, the president directly owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 297,923 shares of company stock worth $88,027,459 in the last ninety days. 0.52% of the stock is owned by insiders.

Celestica Stock Performance

Shares of CLS stock opened at $282.26 on Wednesday. The business’s fifty day simple moving average is $285.86 and its 200-day simple moving average is $292.35. The company has a market cap of $32.45 billion, a PE ratio of 39.31 and a beta of 1.88. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Analysts Set New Price Targets

Several brokerages have issued reports on CLS. Bank of America assumed coverage on Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 target price on the stock. Canaccord Genuity Group boosted their price target on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. TD Cowen reiterated a “hold” rating on shares of Celestica in a research note on Friday, January 30th. Finally, Aletheia Capital boosted their target price on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

Celestica Profile

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.