Mirae Asset Global Investments Co. Ltd. Acquires 64,706 Shares of Celestica, Inc. $CLS

Key Points

• Mirae Asset Global Investments boosted its Celestica stake by 190.5% in Q4, buying 64,706 additional shares to hold 98,664 shares worth about $29.17 million (≈0.09% of the company).
• Analyst sentiment is broadly positive: Celestica has an average rating of "Moderate Buy" with a consensus target of $361.78, and several firms (including Wolfe Research and CIBC) have issued upgrades or raised price targets.
• Insiders have been net sellers recently (the president sold 100,000 shares for ~$30.9M; insiders sold ~297,923 shares worth $88M in the last 90 days), while the stock trades near its one-year high (~$395.75) and the company has a market cap of about $45.5 billion.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 190.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,664 shares of the technology company's stock after acquiring an additional 64,706 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Celestica worth $29,166,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Celestica by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company's stock valued at $1,166,093,000 after purchasing an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Celestica by 471.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company's stock worth $775,133,000 after purchasing an additional 2,596,318 shares during the period. Franklin Resources Inc. raised its position in shares of Celestica by 4.8% in the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company's stock valued at $473,386,000 after buying an additional 88,212 shares in the last quarter. Viking Global Investors LP bought a new stake in shares of Celestica in the third quarter valued at approximately $424,459,000. Finally, Bank of Montreal Can boosted its stake in shares of Celestica by 16.8% in the third quarter. Bank of Montreal Can now owns 1,130,923 shares of the technology company's stock valued at $278,236,000 after buying an additional 162,569 shares during the period. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of recent research reports. Wolfe Research upgraded Celestica to a "strong-buy" rating in a research note on Tuesday, February 17th. TD Securities upped their target price on Celestica from $305.00 to $330.00 and gave the company a "hold" rating in a research report on Friday, January 30th. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. TD Cowen restated a "hold" rating on shares of Celestica in a research report on Friday, January 30th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Celestica from $360.00 to $425.00 and gave the company an "outperformer" rating in a research note on Tuesday. One 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $361.78.

Celestica Stock Up 3.5%

Shares of CLS opened at $395.75 on Friday. The firm has a 50 day simple moving average of $294.75 and a two-hundred day simple moving average of $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. Celestica, Inc. has a one year low of $78.84 and a one year high of $399.36. The company has a market cap of $45.50 billion, a P/E ratio of 55.12 and a beta of 1.88.

Insider Buying and Selling

In other Celestica news, President Jason Phillips sold 100,000 shares of Celestica 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 transaction, the president owned 12,584 shares in the company, valued at $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $324,618.95. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 in the last ninety days. 0.52% of the stock is owned by insiders.

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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