Hel Ved Capital Management Ltd Invests $2.54 Million in Celestica Inc. (NYSE:CLS)

Hel Ved Capital Management Ltd purchased a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,500 shares of the technology company’s stock, valued at approximately $2,538,000.

Other institutional investors also recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its stake in Celestica by 13.0% during the 3rd 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 during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the last quarter. Norges Bank bought a new position in Celestica during the fourth quarter valued at approximately $139,008,000. Franklin Resources Inc. boosted its holdings in Celestica by 290.4% in the fourth quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company’s stock worth $99,735,000 after purchasing an additional 803,780 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Celestica in the 4th quarter worth approximately $47,685,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CLS shares. Stifel Nicolaus increased their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. TD Securities increased their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Down 4.4 %

CLS opened at $66.12 on Friday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 17.68 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm’s fifty day moving average is $103.62 and its 200 day moving average is $88.80. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.

Insider Activity

In related news, CEO Robert Mionis sold 52,588 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock worth $119,142,019 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Celestica Company 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.