Oak Ridge Investments LLC Lowers Stock Position in Celestica, Inc. $CLS

Key Points

• Oak Ridge Investments LLC reduced its stake in Celestica by 16.2% in Q4, selling 10,223 shares and ending the period with 53,058 shares worth $15.684 million (about 1.0% of the firm's holdings, its 18th-largest position).
• Company insiders have been substantial net sellers recently: President Jason Phillips sold 100,000 shares (~$30.9M) and another insider sold 86,229 shares, with insiders offloading 297,923 shares (≈$88.0M) over the past 90 days; insiders now own 0.52% of the stock.
• Shares opened at $366.05 (up ~4.2%) and trade near their 52-week high, with a market cap of about $42.1 billion; analysts give Celestica a consensus “Moderate Buy” rating and a $355.39 target amid divergent price-target moves (Barclays $391, Citigroup $338).

Oak Ridge Investments LLC lessened its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,058 shares of the technology company's stock after selling 10,223 shares during the quarter. Celestica accounts for about 1.0% of Oak Ridge Investments LLC's holdings, making the stock its 18th biggest holding. Oak Ridge Investments LLC's holdings in Celestica were worth $15,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares 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 valued at $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp purchased a new position in shares of Celestica in the third quarter valued at approximately $31,000. Avion Wealth purchased a new position in shares of Celestica in the third quarter valued at approximately $40,000. Fifth Third Bancorp boosted its stake in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock valued at $42,000 after purchasing an additional 56 shares during the period. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Celestica in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Stock Up 4.2%

Shares of Celestica stock opened at $366.05 on Tuesday. Celestica, Inc. has a 52-week low of $77.86 and a 52-week high of $368.88. The company has a 50 day moving average of $287.37 and a 200 day moving average of $296.43. 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 $42.08 billion, a P/E ratio of 50.98 and a beta of 1.88.

Analyst Ratings Changes

CLS has been the subject of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Celestica in a research note on Wednesday, January 21st. Barclays raised their price objective on shares of Celestica from $359.00 to $391.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Citigroup lowered their price objective on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research note on Friday, January 30th. TD Cowen reissued a "hold" rating on shares of Celestica in a research note on Friday, January 30th. Finally, Zacks Research lowered shares of Celestica from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Celestica currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.39.

Insider Buying and Selling

In related news, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of Celestica stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold 297,923 shares of company stock worth $88,027,459 over the last 90 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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