Celestica, Inc. $CLS Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Celestica stake by 94.4%, adding 518,798 shares to hold about 1.07 million shares worth $386.6 million at quarter-end.
• Celestica beat quarterly estimates, reporting $3.30 in earnings per share versus $3.02 expected and revenue of $5.74 billion versus $5.39 billion forecast.
• Analysts were broadly positive, with an average rating of “Buy” and an average price target of $453.32; meanwhile, company insiders sold 67,010 shares worth about $24.3 million over 90 days.

Pictet Asset Management Holding SA boosted its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 94.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,068,473 shares of the technology company's stock after acquiring an additional 518,798 shares during the quarter. Pictet Asset Management Holding SA owned 0.93% of Celestica worth $386,578,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CLS. Legacy Wealth Managment LLC ID boosted its position in Celestica by 14.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company's stock worth $63,000 after acquiring an additional 28 shares during the period. Riverbend Wealth Management LLC grew its stake in shares of Celestica by 4.8% in the third quarter. Riverbend Wealth Management LLC now owns 745 shares of the technology company's stock worth $269,000 after purchasing an additional 34 shares in the last quarter. XML Financial LLC increased its holdings in shares of Celestica by 1.5% during the second quarter. XML Financial LLC now owns 2,640 shares of the technology company's stock valued at $963,000 after purchasing an additional 40 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Celestica by 0.9% during the second quarter. Sequoia Financial Advisors LLC now owns 4,363 shares of the technology company's stock valued at $1,592,000 after purchasing an additional 40 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Celestica by 8.2% during the first quarter. EverSource Wealth Advisors LLC now owns 569 shares of the technology company's stock valued at $160,000 after purchasing an additional 43 shares during the period. Institutional investors own 67.38% of the company's stock.

Insider Buying and Selling

In other Celestica news, President Todd C. Cooper sold 20,118 shares of Celestica stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total value of $7,242,480.00. Following the transaction, the president directly owned 73,252 shares of the company's stock, valued at $26,370,720. The trade was a 21.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Mionis sold 23,496 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the transaction, the chief executive officer owned 23,396 shares of the company's stock, valued at approximately $8,478,476.44. The trade was a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 67,010 shares of company stock worth $24,278,487 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Celestica Price Performance

CLS stock opened at $206.77 on Friday. The firm has a 50-day moving average of $317.31 and a two-hundred day moving average of $329.19. Celestica, Inc. has a one year low of $197.50 and a one year high of $474.02. The company has a current ratio of 1.61, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $26.08 billion, a PE ratio of 19.56, a P/E/G ratio of 1.45 and a beta of 2.10.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The firm had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.39 billion. On average, analysts forecast that Celestica, Inc. will post 10.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CLS shares. Citigroup lifted their price objective on shares of Celestica from $415.00 to $436.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th. Zacks Research upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. raised their target price on shares of Celestica from $445.00 to $485.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce raised their target price on shares of Celestica from $480.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Finally, Wolfe Research boosted their price target on shares of Celestica from $425.00 to $475.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Celestica currently has an average rating of "Buy" and an average target price of $453.32.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company's offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM's manufacturing operations and became an independent company in 1996.

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