Norges Bank Takes $139.01 Million Position in Celestica Inc. (NYSE:CLS)

Norges Bank bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,507,219 shares of the technology company’s stock, valued at approximately $139,008,000. Norges Bank owned about 1.30% of Celestica at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC increased its holdings in shares of Celestica by 13.0% during the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Celestica in the fourth quarter worth $47,685,000. Neumeier Poma Investment Counsel LLC lifted its stake in shares of Celestica by 32.4% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 306,260 shares of the technology company’s stock worth $28,268,000 after buying an additional 74,940 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Celestica by 4.2% during the fourth quarter. Sei Investments Co. now owns 303,937 shares of the technology company’s stock valued at $28,053,000 after buying an additional 12,204 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Price Performance

Celestica stock opened at $78.83 on Tuesday. 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 company has a 50-day moving average price of $107.40 and a 200 day moving average price of $88.61. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The stock has a market cap of $9.14 billion, a P/E ratio of 21.08 and a beta of 2.21.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLS. JPMorgan Chase & Co. began coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. 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 target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Insider Transactions at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last 90 days. Insiders own 1.00% of the company’s stock.

About Celestica

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.