Oppenheimer Asset Management Inc. Takes Position in Celestica, Inc. $CLS

Oppenheimer Asset Management Inc. bought a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 3,796 shares of the technology company’s stock, valued at approximately $935,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares in the last quarter. First Horizon Corp purchased a new stake in Celestica in the third quarter valued at $31,000. Twin Peaks Wealth Advisors LLC acquired a new position in Celestica in the second quarter valued at $40,000. Finally, Avion Wealth acquired a new position in Celestica in the third quarter valued at $40,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLS. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Canaccord Genuity Group increased 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. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $385.00 price target (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group increased their price target on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $356.59.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 89,484 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president owned 108,970 shares in the company, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction dated 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 sale, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by insiders.

Celestica Price Performance

Celestica stock opened at $280.86 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 business has a 50 day simple moving average of $304.95 and a 200-day simple moving average of $276.05. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The stock has a market capitalization of $32.31 billion, a PE ratio of 39.12 and a beta of 1.86.

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.