Celestica, Inc. $CLS Shares Acquired by Spire Wealth Management

Key Points

• Spire Wealth Management increased its stake in Celestica by 354.3% in Q4, buying an additional 4,663 shares to own 5,979 shares worth about $1,767,000.
• Significant insider selling occurred—President Todd C. Cooper sold 89,484 shares and Yann L. Etienvre sold 86,229 shares (both on Feb. 2), and insiders sold 297,923 shares worth ~$88.0M over the last quarter, leaving insiders with 0.52% ownership.
• Analysts’ consensus is a “Moderate Buy” with an average price target of $354.24, while the stock was trading down about 8.3% at $257 with a market cap near $29.55B.

Spire Wealth Management lifted its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 354.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,979 shares of the technology company's stock after purchasing an additional 4,663 shares during the quarter. Spire Wealth Management's holdings in Celestica were worth $1,767,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock worth $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Celestica in the 3rd quarter worth $31,000. Avion Wealth purchased a new stake in shares of Celestica in the third quarter valued at about $40,000. Fifth Third Bancorp boosted its holdings in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock valued at $42,000 after acquiring an additional 56 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Celestica during the third quarter worth about $44,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup cut their price target on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a report on Friday, January 30th. TD Cowen reiterated a "hold" rating on shares of Celestica in a research report on Friday, January 30th. Aletheia Capital increased their target price on Celestica from $330.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Canaccord Genuity Group raised their price target on Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Finally, TD Securities lifted their price target on Celestica from $305.00 to $330.00 and gave the company a "hold" rating in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Celestica presently has an average rating of "Moderate Buy" and an average price target of $354.24.

Celestica Trading Down 8.3%

Shares of CLS stock opened at $257.00 on Tuesday. The stock has a market cap of $29.55 billion, a P/E ratio of 35.79 and a beta of 1.88. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The business has a fifty day simple moving average of $286.43 and a 200-day simple moving average of $292.07.

Insiders Place Their Bets

In other Celestica 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 owned 108,970 shares in the company, valued at approximately $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yann L. Etienvre sold 86,229 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 297,923 shares of company stock worth $88,027,459. Insiders own 0.52% of the company's stock.

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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