Knightsbridge Asset Management LLC Lowers Stock Holdings in Celestica Inc. (NYSE:CLS)

Knightsbridge Asset Management LLC lowered its position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 75.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,129 shares of the technology company's stock after selling 64,911 shares during the period. Knightsbridge Asset Management LLC's holdings in Celestica were worth $1,950,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Peregrine Capital Management LLC acquired a new stake in shares of Celestica in the fourth quarter valued at about $30,000. Pinpoint Asset Management Ltd increased its stake in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after buying an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter valued at approximately $42,000. R Squared Ltd purchased a new position in shares of Celestica in the fourth quarter valued at approximately $51,000. Finally, IFP Advisors Inc boosted its stake in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after acquiring an additional 368 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Stock Performance

CLS stock traded down $0.69 on Tuesday, hitting $87.07. The company's stock had a trading volume of 1,227,334 shares, compared to its average volume of 3,123,802. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 23.24 and a beta of 2.09. The firm has a 50 day moving average of $88.34 and a two-hundred day moving average of $92.67.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted $0.83 EPS. The company's revenue was up 19.9% on a year-over-year basis. Equities analysts predict that Celestica Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mandeep Chawla sold 9,483 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the transaction, the chief financial officer now owns 90,771 shares in the company, valued at $11,576,933.34. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock valued at $116,673,769 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLS. Barclays lowered their price target on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating on the stock in a research report on Monday. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 target price on shares of Celestica in a report on Monday. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, CIBC cut their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Celestica currently has a consensus rating of "Moderate Buy" and an average price target of $105.42.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.