Sharpepoint LLC Sells 6,721 Shares of Celestica, Inc. $CLS

Sharpepoint LLC cut its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 36.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,597 shares of the technology company’s stock after selling 6,721 shares during the quarter. Celestica makes up about 2.6% of Sharpepoint LLC’s holdings, making the stock its 16th biggest position. Sharpepoint LLC’s holdings in Celestica were worth $2,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLS. Private Management Group Inc. purchased a new position in shares of Celestica in the 3rd quarter worth approximately $567,000. Compass Wealth Management LLC GA bought a new position in Celestica in the 3rd quarter valued at $493,000. Glenmede Investment Management LP purchased a new stake in shares of Celestica during the 3rd quarter valued at $1,050,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Celestica by 66.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 449,128 shares of the technology company’s stock worth $110,497,000 after purchasing an additional 178,983 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Celestica by 1,249.0% during the 3rd quarter. Marshall Wace LLP now owns 278,928 shares of the technology company’s stock worth $68,722,000 after purchasing an additional 258,251 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

CLS opened at $263.83 on Friday. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of 36.75 and a beta of 1.88. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $292.58 and a 200-day moving average price of $286.54. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 86,229 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred on 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 transaction, the president owned 12,584 shares of the company’s stock, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 297,923 shares of company stock valued at $88,027,459. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

CLS has been the subject of several research reports. Aletheia Capital increased their price target on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup dropped their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Bank of America assumed coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 target price for the company. Canaccord Genuity Group raised their price target on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Celestica in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.24.

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.