Mirae Asset Global Investments Co. Ltd. Purchases 26,029 Shares of Celestica, Inc. $CLS

Key Points

• Mirae Asset Global Investments opened a new Celestica stake, buying 26,029 shares worth approximately $9.4 million in the third quarter.
• Company insiders sold 67,010 shares worth about $24.3 million in the last quarter, including sales by CEO Robert Mionis and President Todd Cooper.
• Celestica beat quarterly estimates, reporting EPS of $3.30 versus $3.02 expected and revenue of $5.74 billion versus $5.39 billion expected. Analysts’ average price target was $453.32, while shares opened at $236.31.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,029 shares of the technology company's stock, valued at approximately $9,408,000.

Several other large investors also recently bought and sold shares of the stock. Washington Trust Advisors Inc. acquired a new stake in shares of Celestica during the second quarter worth about $28,000. Elevation Wealth Partners LLC purchased a new stake in shares of Celestica in the 3rd quarter valued at about $28,000. Ascentis Independent Advisors acquired a new stake in shares of Celestica in the 1st quarter valued at about $29,000. Latitude Advisors LLC acquired a new stake in shares of Celestica in the 3rd quarter valued at about $40,000. Finally, Mather Group LLC. grew its stake in Celestica by 266.7% during the 3rd quarter. Mather Group LLC. now owns 121 shares of the technology company's stock worth $44,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Insider Transactions at Celestica

In other news, President Todd Cooper sold 20,118 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the transaction, the president owned 73,252 shares in the company, valued at $26,370,720. This trade represents a 21.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Mionis sold 23,496 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the completion of the sale, the chief executive officer owned 23,396 shares of the company's stock, valued at $8,478,476.44. This trade represents a 50.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,010 shares of company stock valued at $24,278,487 in the last quarter. Insiders own 1.10% of the company's stock.

Celestica Stock Down 9.1%

Celestica stock opened at $236.31 on Thursday. The stock's 50 day moving average price is $321.56 and its 200 day moving average price is $330.25. Celestica, Inc. has a 1-year low of $231.48 and a 1-year high of $474.02. The company has a market cap of $29.80 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.70 and a beta of 2.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The firm had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.39 billion. On average, sell-side analysts predict that Celestica, Inc. will post 10.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research lifted their price target on Celestica from $425.00 to $475.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. UBS Group increased their price objective on Celestica from $430.00 to $453.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. Stifel Nicolaus set a $500.00 target price on shares of Celestica in a research report on Tuesday, July 28th. RBC Dominion Securities set a $450.00 target price on shares of Celestica and gave the company an "outperform" rating in a report on Friday, October 23rd. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Celestica from $480.00 to $500.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $453.32.

Celestica Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.

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