Celestica, Inc. $CLS is Herald Investment Management Ltd’s Largest Position

Herald Investment Management Ltd reduced its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 335,000 shares of the technology company’s stock after selling 55,700 shares during the period. Celestica makes up 11.0% of Herald Investment Management Ltd’s investment portfolio, making the stock its largest holding. Herald Investment Management Ltd’s holdings in Celestica were worth $82,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CLS. Franklin Resources Inc. grew its holdings in shares of Celestica by 25.8% during the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after buying an additional 375,910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Celestica by 17.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after purchasing an additional 259,504 shares during the last quarter. Norges Bank acquired a new position in shares of Celestica in the second quarter valued at approximately $236,069,000. Geode Capital Management LLC raised its stake in shares of Celestica by 27.6% during the second quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock worth $153,449,000 after purchasing an additional 208,249 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Celestica by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 925,301 shares of the technology company’s stock worth $143,904,000 after purchasing an additional 22,280 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Bank of America assumed coverage on shares of Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Canadian Imperial Bank of Commerce lifted their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $356.59.

Insider Buying and Selling

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the completion of the transaction, the president owned 108,970 shares of the company’s stock, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock worth $88,027,459 in the last quarter. Company insiders own 0.52% of the company’s stock.

Celestica Trading Up 2.2%

Shares of Celestica stock opened at $280.86 on Friday. The company has a 50-day moving average of $304.95 and a two-hundred day moving average of $276.05. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $32.31 billion, a PE ratio of 39.12 and a beta of 1.86.

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.