Cibc World Market Inc. Has $426.89 Million Holdings in Celestica, Inc. $CLS

Cibc World Market Inc. cut its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,735,145 shares of the technology company’s stock after selling 125,962 shares during the quarter. Celestica comprises approximately 0.8% of Cibc World Market Inc.’s holdings, making the stock its 27th biggest position. Cibc World Market Inc.’s holdings in Celestica were worth $426,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Celestica in the second quarter valued at $236,069,000. SRS Investment Management LLC bought a new stake in shares of Celestica in the 2nd quarter valued at about $135,289,000. Picton Mahoney Asset Management acquired a new stake in Celestica in the 2nd quarter valued at about $90,425,000. Legal & General Group Plc grew its holdings in Celestica by 103.3% during the second quarter. Legal & General Group Plc now owns 743,570 shares of the technology company’s stock worth $115,961,000 after purchasing an additional 377,825 shares during the period. Finally, Franklin Resources Inc. increased its position in Celestica by 25.8% during the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after buying an additional 375,910 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Citigroup dropped their price target on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Celestica in a research report on Thursday, January 22nd. Canaccord Genuity Group increased their price objective on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.59.

Celestica Stock Down 6.7%

CLS stock opened at $297.79 on Wednesday. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The stock has a market capitalization of $34.26 billion, a price-to-earnings ratio of 41.47 and a beta of 1.86. The business’s fifty day moving average price is $307.04 and its two-hundred day moving average price is $274.63.

Insider Buying and Selling

In other news, insider Yann L. Etienvre sold 86,229 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Jason Phillips sold 100,000 shares of Celestica 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 completion of the sale, the president owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by company insiders.

Celestica Company 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.