Maxi Investments CY Ltd Acquires Shares of 4,200 Celestica, Inc. $CLS

Key Points

• Maxi Investments CY Ltd opened a new position in Celestica (NYSE:CLS) during the third quarter, acquiring 4,200 shares valued at about $1,035,000.
• Insiders have been heavy sellers recently—297,923 shares worth ~$88.03 million were sold in the past three months, including President Jason Phillips' 100,000-share sale and Yann L. Etienvre's 86,229-share sale—leaving insiders with just 0.52% ownership.
• Analyst sentiment is broadly positive with a consensus "Moderate Buy" and an average price target of $354.24, above the recent share price (~$270.77), after several upgrades and target increases.

Maxi Investments CY Ltd bought a new position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,200 shares of the technology company's stock, valued at approximately $1,035,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Prospera Financial Services Inc bought a new position in shares of Celestica in the second quarter worth about $242,000. Allworth Financial LP lifted its holdings in Celestica by 509.3% during the 2nd quarter. Allworth Financial LP now owns 1,249 shares of the technology company's stock valued at $195,000 after buying an additional 1,044 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Celestica by 91.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,727 shares of the technology company's stock valued at $1,518,000 after buying an additional 4,645 shares in the last quarter. Geode Capital Management LLC boosted its position in Celestica by 27.6% in the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company's stock valued at $153,449,000 after buying an additional 208,249 shares during the period. Finally, Foundations Investment Advisors LLC boosted its position in Celestica by 45.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 4,790 shares of the technology company's stock valued at $748,000 after buying an additional 1,498 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of research reports. TD Cowen reaffirmed a "hold" rating on shares of Celestica in a research report on Friday, January 30th. Wolfe Research upgraded Celestica to a "strong-buy" rating in a report on Tuesday, February 17th. TD Securities increased their price objective on Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Celestica in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group lifted their target price on Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $354.24.

Insider Activity

In related news, insider Yann L. Etienvre sold 86,229 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jason Phillips sold 100,000 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the sale, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is currently owned by company insiders.

Celestica Stock Performance

Shares of NYSE:CLS opened at $270.77 on Tuesday. The firm has a 50 day moving average of $292.13 and a 200 day moving average of $288.16. 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 company has a market capitalization of $31.15 billion, a price-to-earnings ratio of 37.71 and a beta of 1.88. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40.

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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