Charles Schwab Investment Management Inc. Lowers Stake in Celestica Inc. (NYSE:CLS)

Charles Schwab Investment Management Inc. cut its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 332,389 shares of the technology company’s stock after selling 47,090 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.29% of Celestica worth $30,661,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica during the third quarter valued at about $61,210,000. Whale Rock Capital Management LLC lifted its position in shares of 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 valued at $432,846,000 after buying an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after buying an additional 301,563 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Celestica by 1,697.3% during the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Celestica by 161.5% during the fourth quarter. Alberta Investment Management Corp now owns 279,791 shares of the technology company’s stock valued at $25,808,000 after buying an additional 172,814 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CLS shares. TD Securities increased their price target 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. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group started coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Insider Buying and Selling

In other news, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $67,776,924.18. This trade represents a 9.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by company insiders.

Celestica Price Performance

Shares of NYSE:CLS opened at $91.82 on Monday. Celestica Inc. has a twelve month low of $40.25 and a twelve month high of $144.27. The company’s 50 day moving average is $110.59 and its 200 day moving average is $85.19. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.68 billion, a PE ratio of 24.55 and a beta of 2.21.

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.