Sierra Summit Advisors LLC Reduces Stake in Celestica, Inc. $CLS

Sierra Summit Advisors LLC lowered its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,529 shares of the technology company’s stock after selling 4,299 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Celestica were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after acquiring an additional 37 shares during the period. First Horizon Corp purchased a new stake in Celestica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC boosted its holdings in Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the period. Avion Wealth purchased a new position in shares of Celestica during the 3rd quarter valued at $40,000. Finally, Fifth Third Bancorp increased its holdings in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after purchasing an additional 56 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

Shares of NYSE CLS opened at $277.43 on Friday. The stock’s 50-day moving average is $300.32 and its 200 day moving average is $282.11. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 38.64 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 company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CLS shares. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, January 21st. Barclays boosted their price objective on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Aletheia Capital raised their target price on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup dropped their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $356.59.

Insider Activity

In other Celestica news, President Jason Phillips sold 100,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the completion of the sale, the president directly owned 12,584 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the sale, the president owned 108,970 shares of the company’s stock, valued at approximately $30,894,084.70. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 297,923 shares of company stock valued at $88,027,459. Corporate insiders own 0.52% of the company’s stock.

About Celestica

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.