Korea Investment CORP Acquires 11,285 Shares of Celestica, Inc. $CLS

Key Points

• Korea Investment CORP boosted its Celestica stake by 14% in Q3, buying 11,285 shares to hold 91,825 shares worth about $22.6 million (roughly 0.08% of the company).
• Institutional ownership is high at 67.38%, with major holders like Vanguard owning ~4.74 million shares ($1.166 billion); analysts have a consensus "Moderate Buy" rating and an average price target of $356.59.
• Company insiders have been net sellers recently, offloading 297,923 shares (~$88 million) in the last 90 days, leaving insider ownership around 0.52%.

Korea Investment CORP boosted its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,825 shares of the technology company's stock after buying an additional 11,285 shares during the period. Korea Investment CORP owned approximately 0.08% of Celestica worth $22,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company's stock worth $1,166,093,000 after acquiring an additional 97,755 shares during the period. Franklin Resources Inc. grew its position in shares of Celestica by 25.8% in the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company's stock valued at $286,184,000 after purchasing an additional 375,910 shares in the last quarter. Norges Bank bought a new stake in shares of Celestica during the 2nd quarter valued at $236,069,000. Geode Capital Management LLC lifted its holdings in Celestica by 27.6% during the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company's stock worth $153,449,000 after purchasing an additional 208,249 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Celestica by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 925,301 shares of the technology company's stock worth $143,904,000 after purchasing an additional 22,280 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLS. Canaccord Genuity Group lifted their target price on Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Wolfe Research raised shares of Celestica to a "strong-buy" rating in a report on Tuesday, February 17th. Citigroup cut their price objective on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Barclays boosted their price objective on shares of Celestica from $359.00 to $391.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Celestica in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $356.59.

Insider Activity

In other news, insider Yann L. Etienvre sold 1,145 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president owned 108,970 shares in the company, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is currently owned by insiders.

Celestica Price Performance

Shares of NYSE CLS opened at $269.08 on Wednesday. The firm has a market capitalization of $30.96 billion, a P/E ratio of 37.48 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. The stock's 50-day simple moving average is $294.56 and its two-hundred day simple moving average is $286.33. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40.

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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