Sierra Summit Advisors LLC Reduces Position in Celestica, Inc. $CLS

Sierra Summit Advisors LLC decreased its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 54.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,529 shares of the technology company’s stock after selling 4,299 shares during the period. Sierra Summit Advisors LLC’s holdings in Celestica were worth $869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLS. Vanguard Group Inc. boosted its position in Celestica by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after buying an additional 97,755 shares during the period. Franklin Resources Inc. boosted its holdings in shares of 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 purchasing an additional 375,910 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Celestica by 17.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after purchasing an additional 259,504 shares during the last quarter. Norges Bank bought a new stake in shares of Celestica in the second quarter worth about $236,069,000. Finally, Geode Capital Management LLC increased its holdings in Celestica by 27.6% during the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock valued at $153,449,000 after purchasing an additional 208,249 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares of the company’s stock, valued at $31,323,426.50. This trade represents a 45.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 in the last three months. 0.52% of the stock is owned by corporate insiders.

Celestica Price Performance

CLS opened at $277.43 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 38.64 and a beta of 1.86. The stock has a fifty day simple moving average of $300.32 and a two-hundred day simple moving average of $282.11. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Analysts Set New Price Targets

CLS has been the topic of a number of recent analyst reports. Zacks Research upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Canaccord Genuity Group lifted their price target on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, February 2nd. TD Cowen reissued a “hold” rating on shares of Celestica in a research report on Friday, January 30th. TD Securities raised their target price on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $356.59.

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.