Franklin Resources Inc. Buys 803,780 Shares of Celestica Inc. (NYSE:CLS)

Franklin Resources Inc. lifted its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 290.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,080,568 shares of the technology company’s stock after buying an additional 803,780 shares during the quarter. Franklin Resources Inc. owned approximately 0.93% of Celestica worth $99,735,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Peregrine Capital Management LLC bought a new position in Celestica during the fourth quarter valued at approximately $30,000. R Squared Ltd purchased a new position in shares of Celestica in the 4th quarter worth $51,000. IFP Advisors Inc grew its stake in shares of Celestica by 122.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after buying an additional 368 shares in the last quarter. UMB Bank n.a. raised its position in shares of Celestica by 43.6% during the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after buying an additional 288 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Celestica by 47.7% in the 4th quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the technology company’s stock valued at $102,000 after acquiring an additional 355 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Celestica

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

Celestica Price Performance

Shares of CLS stock opened at $82.43 on Thursday. The company has a market capitalization of $9.56 billion, a P/E ratio of 22.04 and a beta of 2.21. The company’s 50-day simple moving average is $105.80 and its two-hundred day simple moving average is $88.80. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Barclays lifted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

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.