Wealthedge Investment Advisors LLC Buys Shares of 3,026 Celestica, Inc. $CLS

Wealthedge Investment Advisors LLC purchased a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to its most recent filing with the SEC. The firm purchased 3,026 shares of the technology company’s stock, valued at approximately $746,000.

A number of other institutional investors and hedge funds have also modified their holdings of CLS. Vanguard Group Inc. increased its stake in Celestica by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after purchasing an additional 97,755 shares in the last quarter. Franklin Resources Inc. grew its holdings in Celestica by 25.8% in the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock valued at $286,184,000 after purchasing an additional 375,910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Celestica by 17.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after buying an additional 259,504 shares in the last quarter. Norges Bank acquired a new position in shares of Celestica during the 2nd quarter worth $236,069,000. Finally, Geode Capital Management LLC raised its stake in shares of Celestica by 27.6% during the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock worth $153,449,000 after buying an additional 208,249 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Activity at Celestica

In related news, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by company insiders.

Celestica Stock Down 0.6%

CLS opened at $277.43 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The stock has a market capitalization of $31.92 billion, a price-to-earnings ratio of 38.64 and a beta of 1.86. The business has a 50-day moving average of $300.32 and a two-hundred day moving average of $281.63. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLS. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. TD Securities upped their price target on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a report on Friday, January 30th. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Bank of America initiated coverage on Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Aletheia Capital upped their target price on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.