LGT Fund Management Co Ltd. Invests $4.51 Million in Celestica, Inc. $CLS

LGT Fund Management Co Ltd. bought a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 17,850 shares of the technology company’s stock, valued at approximately $4,510,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Celestica in the second quarter worth about $236,069,000. SRS Investment Management LLC acquired a new stake in Celestica during the second quarter valued at approximately $135,289,000. Picton Mahoney Asset Management acquired a new stake in Celestica during the second quarter valued at approximately $90,425,000. Legal & General Group Plc grew its stake in shares of 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 purchasing an additional 377,825 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of 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 purchasing an additional 375,910 shares during the period. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of recent research reports. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Bank of America initiated coverage on Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Stock Performance

NYSE:CLS opened at $249.58 on Monday. The stock has a market capitalization of $28.71 billion, a P/E ratio of 34.76 and a beta of 1.88. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The firm has a 50 day moving average of $295.88 and a 200-day moving average of $285.16.

Insider Activity at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president owned 108,970 shares in the company, valued at $30,894,084.70. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 297,923 shares of company stock valued at $88,027,459 in the last three months. Corporate insiders own 0.52% of the company’s stock.

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.