Celestica, Inc. $CLS Stake Boosted by Franklin Resources Inc.

Key Points

• Franklin Resources increased its stake in Celestica by 4.8% to 1,921,417 shares (about 1.67% of the company), valued at roughly $473.4 million at the end of the reporting period.
• Large insider selling occurred recently: Presidents Jason Phillips and Todd C. Cooper sold 100,000 and 89,484 shares respectively, and insiders sold 297,923 shares totaling about $88.03 million in the last quarter, leaving insiders with just 0.52% ownership.
• Market and analyst view: CLS traded near $265.90 (52‑week range $58.05–$363.40) and has a consensus "Moderate Buy" with an average target price of $354.24.

Franklin Resources Inc. increased its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,921,417 shares of the technology company's stock after purchasing an additional 88,212 shares during the period. Franklin Resources Inc. owned 1.67% of Celestica worth $473,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Celestica by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,351 shares of the technology company's stock worth $20,349,000 after buying an additional 8,884 shares during the last quarter. Metis Global Partners LLC lifted its stake in Celestica by 44.2% in the second quarter. Metis Global Partners LLC now owns 4,944 shares of the technology company's stock valued at $772,000 after buying an additional 1,516 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of Celestica during the second quarter valued at $242,000. Aviva PLC boosted its holdings in shares of Celestica by 6.7% during the second quarter. Aviva PLC now owns 81,774 shares of the technology company's stock valued at $12,774,000 after acquiring an additional 5,150 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Celestica during the second quarter worth about $3,895,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Insider Activity at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was 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 of the company's stock, valued at approximately $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 297,923 shares of company stock worth $88,027,459 in the last quarter. 0.52% of the stock is owned by company insiders.

Celestica Price Performance

Shares of NYSE CLS opened at $265.90 on Thursday. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The firm's 50-day simple moving average is $293.96 and its 200 day simple moving average is $286.19. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The stock has a market cap of $30.59 billion, a P/E ratio of 37.03 and a beta of 1.88.

Wall Street Analyst Weigh In

CLS has been the topic of a number of analyst reports. TD Cowen reaffirmed a "hold" rating on shares of Celestica in a report on Friday, January 30th. Wall Street Zen raised shares of Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Zacks Research upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce dropped their price target on shares of Celestica from $400.00 to $360.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, TD Securities lifted their price target on Celestica from $305.00 to $330.00 and gave the company a "hold" rating in a report on Friday, January 30th. Two research 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's stock. According to MarketBeat, Celestica currently has an average rating of "Moderate Buy" and an average 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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