Chicago Capital LLC Makes New $3.62 Million Investment in Celestica, Inc. $CLS

Key Points

• Chicago Capital LLC established a new position in Celestica in Q4, buying 12,258 shares worth approximately $3.62 million.
• Company insiders sold a large amount of stock last quarter — including President Todd C. Cooper (89,484 shares, ~$25.7M) and Yann L. Etienvre (86,229 shares, ~$24.8M) — with insiders selling about $88.0 million in total and owning just 0.52% of the company.
• CLS is trading near its 12-month high (opened at $395.75) with a market cap of ~$45.5 billion, and Wall Street consensus is a "Moderate Buy" with an average target price of $361.78.

Chicago Capital LLC bought a new position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,258 shares of the technology company's stock, valued at approximately $3,624,000.

Several other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% during the third 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 purchased a new position in shares of Celestica during the third quarter valued at approximately $31,000. Avion Wealth purchased a new position in shares of Celestica during the third quarter valued at approximately $40,000. Fifth Third Bancorp raised 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 valued at $42,000 after purchasing an additional 56 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Celestica during the third quarter valued at approximately $44,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 89,484 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the sale, the president directly owned 108,970 shares in the company, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the firm'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. In the last quarter, insiders have sold 297,923 shares of company stock valued at $88,027,459. Company insiders own 0.52% of the company's stock.

Celestica Trading Up 3.5%

CLS stock opened at $395.75 on Friday. The company has a market capitalization of $45.50 billion, a PE ratio of 55.12 and a beta of 1.88. Celestica, Inc. has a 12 month low of $78.84 and a 12 month high of $399.36. The firm's 50-day moving average is $294.75 and its 200 day moving average is $299.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen restated a "hold" rating on shares of Celestica in a research report on Friday, January 30th. Barclays boosted their target price on shares of Celestica from $359.00 to $391.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Canaccord Genuity Group boosted their target price on shares of Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Celestica in a research report on Wednesday, January 21st. Finally, Susquehanna assumed coverage on shares of Celestica in a research report on Wednesday, April 1st. They set a "positive" rating and a $375.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and an average target price of $361.78.

Celestica Company 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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