Celestica, Inc. $CLS Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Celestica by 20.6% in Q4, owning 21,230 shares worth approximately $6.28 million after buying an additional 3,623 shares.
• Significant insider selling occurred: President Jason Phillips sold 100,000 shares for about $30.89 million (an 88.82% cut in his holdings), and insiders sold a total of 297,923 shares valued at roughly $88.03 million over the past 90 days.
• Institutional investors hold 67.38% of the stock with large position increases from firms like Arrowstreet and Viking, while analysts show a consensus of "Moderate Buy" with an average target price of $361.78.

Assetmark Inc. grew its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,230 shares of the technology company's stock after purchasing an additional 3,623 shares during the quarter. Assetmark Inc.'s holdings in Celestica were worth $6,276,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CLS. Arrowstreet Capital Limited Partnership raised its stake in shares of Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company's stock valued at $775,133,000 after purchasing an additional 2,596,318 shares in the last quarter. Viking Global Investors LP bought a new stake in shares of Celestica during the 3rd quarter valued at about $424,459,000. BNP Paribas Financial Markets grew its position in shares of Celestica by 6,788.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 438,777 shares of the technology company's stock valued at $108,106,000 after buying an additional 432,407 shares during the last quarter. Marshall Wace LLP grew its position in shares of Celestica by 1,249.0% during the 3rd quarter. Marshall Wace LLP now owns 278,928 shares of the technology company's stock valued at $68,722,000 after buying an additional 258,251 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Celestica by 30.9% during the 3rd quarter. Legal & General Group Plc now owns 973,112 shares of the technology company's stock valued at $239,527,000 after buying an additional 229,542 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of recent research reports. Zacks Research downgraded shares of Celestica from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Susquehanna initiated coverage on shares of Celestica in a research report on Wednesday, April 1st. They set a "positive" rating and a $375.00 price objective for the company. TD Cowen reaffirmed a "hold" rating on shares of Celestica in a research report 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. Finally, Wolfe Research raised shares of Celestica to a "strong-buy" rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $361.78.

Insider Activity at Celestica

In related news, President Jason Phillips sold 100,000 shares of the firm's 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 directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the sale, the president owned 108,970 shares of the company's stock, valued at $30,894,084.70. The trade was a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 over the last ninety days. Insiders own 0.52% of the company's stock.

Celestica Trading Up 3.5%

Shares of NYSE:CLS opened at $395.75 on Friday. The company has a 50 day moving average of $294.75 and a 200-day moving average of $300.00. The firm has a market cap of $45.50 billion, a P/E ratio of 55.12 and a beta of 1.88. Celestica, Inc. has a twelve month low of $78.84 and a twelve month high of $399.36. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

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.

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