Alight Capital Management LP Has $2.46 Million Holdings in Celestica, Inc. $CLS

Key Points

• Alight Capital Management cut its stake in Celestica by 77.8% in Q3, selling 35,000 shares and leaving it with 10,000 shares valued at approximately $2.46 million.
• Company insiders have been heavy sellers recently — including Yann L. Etienvre (86,229 shares) and President Todd C. Cooper (89,484 shares) on Feb. 2 — with insiders selling a total of 297,923 shares worth about $88.0 million in the last three months.
• Wall Street is broadly positive on Celestica: most analysts rate the stock a Buy (average rating “Moderate Buy”) with a consensus target price of about $354.24.

Alight Capital Management LP cut its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 77.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the technology company's stock after selling 35,000 shares during the period. Alight Capital Management LP's holdings in Celestica were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CLS. Allianz Asset Management GmbH grew its holdings in Celestica by 7.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company's stock worth $83,044,000 after acquiring an additional 22,863 shares during the period. Light Street Capital Management LLC bought a new stake in shares of Celestica during the 2nd quarter valued at $26,422,000. Spark Investment Management LLC lifted its stake in shares of Celestica by 17.4% in the 3rd quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company's stock valued at $6,643,000 after purchasing an additional 4,000 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Celestica by 2.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company's stock valued at $22,356,000 after purchasing an additional 3,221 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Celestica in the 3rd quarter worth $28,924,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Celestica

In other Celestica 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 filing with the SEC, which is available through the SEC website. Also, President Todd C. Cooper sold 89,484 shares of Celestica 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 $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at approximately $31,323,426.50. The trade was a 45.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by company insiders.

Celestica Stock Down 0.4%

Shares of Celestica stock opened at $263.83 on Friday. The company has a market capitalization of $30.35 billion, a P/E ratio of 36.75 and a beta of 1.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The business has a 50-day moving average of $292.58 and a two-hundred day moving average of $287.15. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLS. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Wolfe Research raised Celestica to a "strong-buy" rating in a research note on Tuesday, February 17th. TD Securities raised their target price on Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Celestica in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group upped their price target on Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Two equities research 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.

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