WCM Investment Management LLC Sells 184,768 Shares of Celestica, Inc. $CLS

WCM Investment Management LLC trimmed its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 709,223 shares of the technology company’s stock after selling 184,768 shares during the period. WCM Investment Management LLC’s holdings in Celestica were worth $174,433,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Celestica during the second quarter valued at approximately $236,069,000. SRS Investment Management LLC acquired a new position in shares of Celestica during the second quarter valued at about $135,289,000. Picton Mahoney Asset Management bought a new stake in shares of Celestica during the second quarter worth about $90,425,000. Legal & General Group Plc lifted its position in Celestica by 103.3% in the 2nd quarter. Legal & General Group Plc now owns 743,570 shares of the technology company’s stock valued at $115,961,000 after acquiring an additional 377,825 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Celestica by 25.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock valued at $286,184,000 after acquiring an additional 375,910 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. TD Securities raised their price target on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $385.00 price target (up from $230.00) on shares of Celestica in a report on Wednesday, October 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Celestica in a report on Friday. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Stock Up 1.5%

Shares of CLS opened at $285.18 on Tuesday. The firm has a market cap of $32.81 billion, a P/E ratio of 39.72 and a beta of 1.86. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The stock has a 50 day simple moving average of $310.36 and a two-hundred day simple moving average of $268.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

Celestica 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.