Celestica, Inc. $CLS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. cut its stake in Celestica by 8.3% (sold 22,047 shares), leaving it with 243,686 shares worth about $59.97 million (≈0.21% of the company).
• Senior insiders have been selling heavily: President Todd C. Cooper sold 1,065 shares (~$301,938) and President Jason Phillips sold 100,000 shares (~$30.89 million), with insiders selling 297,923 shares (~$88.03 million) in the last three months and now owning 0.52% of the stock.
• Analysts are broadly bullish, with several upgrades and higher targets (Bank of America initiated a buy at $400, Canaccord raised its target to $430), and a consensus target of $356.59 and an average rating of "Moderate Buy."

American Century Companies Inc. reduced its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,686 shares of the technology company's stock after selling 22,047 shares during the quarter. American Century Companies Inc. owned about 0.21% of Celestica worth $59,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CLS. MassMutual Private Wealth & Trust FSB raised its position in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock valued at $31,000 after purchasing an additional 37 shares during the last quarter. First Horizon Corp acquired a new position in Celestica in the third quarter valued at $31,000. Golden State Wealth Management LLC raised its holdings in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company's stock valued at $26,000 after buying an additional 83 shares during the last quarter. Avion Wealth acquired a new stake in shares of Celestica during the third quarter worth about $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock worth $42,000 after buying an additional 56 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Up 5.4%

Shares of CLS opened at $270.84 on Thursday. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $31.16 billion, a P/E ratio of 37.72 and a beta of 1.88. The firm's 50-day moving average is $297.84 and its two-hundred day moving average is $283.50.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Bank of America started coverage on Celestica in a report on Wednesday, January 28th. They issued a "buy" rating and a $400.00 target price on the stock. Canaccord Genuity Group upped their price target on Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. TD Securities increased their price target on Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Finally, Zacks Research upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $356.59.

Insider Activity at Celestica

In other news, President Todd C. Cooper sold 1,065 shares of Celestica stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the sale, the president directly owned 108,970 shares in the company, valued at $30,894,084.70. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Jason Phillips sold 100,000 shares of the company'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 transaction, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. The trade was a 88.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. Insiders own 0.52% of the company's stock.

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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