Celestica Inc. (NYSE:CLS) Holdings Cut by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,100 shares of the technology company’s stock after selling 17,600 shares during the quarter. Louisbourg Investments Inc.’s holdings in Celestica were worth $2,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CLS. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the 3rd quarter worth approximately $61,210,000. Whale Rock Capital Management LLC grew its holdings in 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 worth $432,846,000 after acquiring an additional 975,163 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Natixis Advisors LLC grew its position in Celestica by 1,697.3% in the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after buying an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised its position in shares of Celestica by 53.8% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after purchasing an additional 183,300 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Stifel Nicolaus began coverage on shares of Celestica in a research note on Tuesday, February 4th. They set a “buy” rating and a $140.00 price target on the stock. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. 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 research note on Friday, December 20th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $103.27.

Celestica Stock Performance

Shares of Celestica stock opened at $126.62 on Wednesday. The firm has a market cap of $14.73 billion, a P/E ratio of 33.86 and a beta of 2.27. Celestica Inc. has a fifty-two week low of $36.00 and a fifty-two week 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. The firm has a 50 day simple moving average of $104.85 and a 200 day simple moving average of $76.10.

Insider Activity

In other news, President Todd C. Cooper sold 65,000 shares of the 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 completion of the sale, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is owned by company insiders.

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.