NewSquare Capital LLC Purchases Shares of 33,119 Celestica, Inc. $CLS

Key Points

• NewSquare Capital established a new position in Celestica, buying 33,119 shares in the 3rd quarter worth about $8.16 million.
• Insider selling: President Jason Phillips sold 100,000 shares at an average price of $308.92 (≈$30.9M), reducing his holdings by roughly 88.8%.
• Analyst view: Celestica has a consensus rating of Moderate Buy with an average price target of $356.59 (two Strong Buy, fifteen Buy, three Hold).

NewSquare Capital LLC purchased a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,119 shares of the technology company's stock, valued at approximately $8,160,000.

A number of other institutional investors have also modified their holdings of CLS. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock worth $31,000 after buying an additional 37 shares during the last quarter. World Equity Group Inc. raised its position in Celestica by 1.7% during the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company's stock valued at $558,000 after acquiring an additional 38 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Celestica by 3.2% in the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company's stock valued at $398,000 after acquiring an additional 50 shares during the period. McIlrath & Eck LLC boosted its position in Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company's stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Celestica by 48.7% in the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock worth $42,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CLS. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Celestica in a report on Wednesday, January 21st. Zacks Research raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 5th. Citigroup decreased 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. BMO Capital Markets reissued an "outperform" rating on shares of Celestica in a research note on Monday, January 26th. Finally, TD Cowen restated a "hold" rating on shares of Celestica in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $356.59.

Celestica Price Performance

NYSE:CLS opened at $270.84 on Thursday. The stock has a 50 day moving average of $297.84 and a two-hundred day moving average of $283.50. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The firm has a market cap of $31.16 billion, a P/E ratio of 37.72 and a beta of 1.88. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In other news, President Jason Phillips sold 100,000 shares of the 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 completion of the sale, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 1,145 shares of the firm'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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by corporate insiders.

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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