Sierra Summit Advisors LLC Makes New $543,000 Investment in Celestica Inc. (NYSE:CLS)

Sierra Summit Advisors LLC purchased a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,883 shares of the technology company’s stock, valued at approximately $543,000.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after acquiring an additional 1,401,877 shares during the period. Norges Bank bought a new stake in shares of Celestica during the 4th quarter valued at $139,008,000. Franklin Resources Inc. increased its stake in shares of Celestica by 290.4% in the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Celestica in the 4th quarter worth $47,685,000. Institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares of the company’s stock, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 934,381 shares of company stock worth $116,673,769. Corporate insiders own 1.00% of the company’s stock.

Celestica Stock Down 4.4 %

Shares of CLS stock opened at $66.12 on Monday. The company’s fifty day simple moving average is $103.62 and its two-hundred day simple moving average is $89.39. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27. The stock has a market cap of $7.67 billion, a P/E ratio of 17.68 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Analyst Upgrades and Downgrades

CLS has been the subject of several recent research reports. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a report on Friday, January 31st. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, TD Securities raised their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

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.