Celestica, Inc. $CLS Stock: Pictet Asset Management Holding SA Boosts Holdings

Pictet Asset Management Holding SA increased its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 94.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,068,473 shares of the technology company’s stock after acquiring an additional 518,798 shares during the period. Pictet Asset Management Holding SA’s holdings in Celestica were worth $386,578,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CLS. Cibc World Market Inc. acquired a new stake in shares of Celestica in the 2nd quarter valued at $757,811,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Celestica in the 2nd quarter valued at $674,199,000. Royal Bank of Canada increased its position in Celestica by 13.8% in the first quarter. Royal Bank of Canada now owns 1,283,561 shares of the technology company’s stock worth $361,553,000 after purchasing an additional 156,040 shares during the period. Bank of America Corp DE acquired a new stake in Celestica in the second quarter worth about $444,899,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Celestica during the 2nd quarter worth about $351,717,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CLS shares. Wolfe Research upped their target price on shares of Celestica from $425.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. TD Cowen restated a “buy” rating on shares of Celestica in a research report on Tuesday, October 27th. Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. FBN Securities assumed coverage on Celestica in a report on Tuesday, September 15th. They issued an “outperform” rating and a $375.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a “conviction-buy” rating and set a $435.00 price objective on shares of Celestica in a research report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Celestica currently has a consensus rating of “Buy” and an average price target of $453.32.

Celestica Price Performance

Shares of NYSE:CLS opened at $206.77 on Friday. Celestica, Inc. has a 12 month low of $197.50 and a 12 month high of $474.02. The stock has a market capitalization of $26.08 billion, a PE ratio of 19.56, a PEG ratio of 1.45 and a beta of 2.10. The company has a current ratio of 1.61, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $317.31 and a 200-day moving average of $329.19.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.39 billion. On average, equities research analysts predict that Celestica, Inc. will post 10.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 20,118 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the transaction, the president owned 73,252 shares in the company, valued at $26,370,720. This trade represents a 21.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Mionis sold 23,496 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the completion of the transaction, the chief executive officer owned 23,396 shares of the company’s stock, valued at approximately $8,478,476.44. This trade represents a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 67,010 shares of company stock valued at $24,278,487 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Celestica Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM’s manufacturing operations and became an independent company in 1996.