Massachusetts Financial Services Co. MA Sells 158,610 Shares of Celestica, Inc. $CLS

Key Points

• Massachusetts Financial Services cut its Celestica stake by 47.3%, selling 158,610 shares and retaining 176,642 shares worth about $52.2 million after the fourth-quarter trades.
• Heavy insider selling has occurred recently — President Jason Phillips sold 100,000 shares for roughly $30.9 million and, alongside other insider sales, insiders disposed of 297,923 shares valued at about $88.0 million in the last 90 days.
• Market and analyst picture: CLS is trading near its 1-year high (opened at $384.29 vs a $392.12 high), has a $44.2 billion market cap, and carries a consensus "Moderate Buy" from analysts with an average target of $359.

Massachusetts Financial Services Co. MA lessened its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 47.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,642 shares of the technology company's stock after selling 158,610 shares during the period. Massachusetts Financial Services Co. MA owned 0.15% of Celestica worth $52,217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Pinney & Scofield Inc. boosted its holdings in shares of Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 30 shares in the last quarter. LeConte Wealth Management LLC boosted its holdings in shares of Celestica by 3.5% during the 4th quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company's stock valued at $296,000 after buying an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock valued at $31,000 after buying an additional 37 shares in the last quarter. World Equity Group Inc. boosted its holdings in shares of Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company's stock valued at $558,000 after buying an additional 38 shares in the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in shares of Celestica by 2.3% during the 4th quarter. Terra Nova Asset Management LLC now owns 1,686 shares of the technology company's stock valued at $498,000 after buying an additional 38 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

Insiders Place Their Bets

In other Celestica news, President Jason Phillips sold 100,000 shares of the business's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares of the company's stock, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $24,786,526.05. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by insiders.

Celestica Price Performance

CLS opened at $384.29 on Wednesday. The stock has a 50-day moving average price of $289.12 and a 200-day moving average price of $297.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market cap of $44.18 billion, a PE ratio of 53.52 and a beta of 1.88. Celestica, Inc. has a 1 year low of $77.86 and a 1 year high of $392.12.

Analyst Ratings Changes

A number of brokerages have recently commented on CLS. BMO Capital Markets restated an "outperform" rating on shares of Celestica in a report on Monday, January 26th. Aletheia Capital lifted their price target on Celestica from $330.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. Finally, Citigroup lowered their price target on Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $359.00.

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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