Polar Asset Management Partners Inc. Has $1.69 Million Holdings in Celestica, Inc. $CLS

Polar Asset Management Partners Inc. lessened its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,854 shares of the technology company’s stock after selling 3,146 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Celestica were worth $1,687,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CLS. Vanguard Group Inc. grew its position in shares of Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after purchasing an additional 97,755 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Celestica by 471.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after purchasing an additional 2,596,318 shares during the period. Franklin Resources Inc. lifted its position in shares of Celestica by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock worth $473,386,000 after purchasing an additional 88,212 shares during the last quarter. Viking Global Investors LP bought a new stake in Celestica during the 3rd quarter valued at approximately $424,459,000. Finally, Norges Bank bought a new stake in Celestica during the 2nd quarter valued at approximately $236,069,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Up 4.0%

Shares of CLS opened at $284.44 on Friday. The stock’s 50-day moving average price is $290.94 and its 200 day moving average price is $288.64. 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 market capitalization of $32.72 billion, a price-to-earnings ratio of 39.62 and a beta of 1.88. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Insider Activity

In other news, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Jason Phillips sold 100,000 shares of the company’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 transaction, the president 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 297,923 shares of company stock worth $88,027,459. Company insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research report on Wednesday, January 21st. TD Securities increased their price objective on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, 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 report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus target price 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.