Silver Oak Securities Incorporated Acquires New Position in Celestica, Inc. $CLS

Silver Oak Securities Incorporated bought a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the fourth quarter, Holdings Channel reports. The firm bought 4,065 shares of the technology company’s stock, valued at approximately $1,217,000.

Several other large investors also recently bought and sold shares of CLS. MassMutual Private Wealth & Trust FSB increased 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 valued at $31,000 after purchasing an additional 37 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Celestica during the third quarter worth $31,000. Avion Wealth acquired a new stake in shares of Celestica during the third quarter worth $40,000. Fifth Third Bancorp grew its holdings in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after buying an additional 56 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Celestica during the third quarter valued at $44,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 9.7%

NYSE:CLS opened at $282.26 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The company’s fifty day moving average price is $285.86 and its 200-day moving average price is $292.35. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The firm has a market capitalization of $32.45 billion, a P/E ratio of 39.31 and a beta of 1.88.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLS. Citigroup reduced their target price on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce dropped their price target on Celestica from $400.00 to $360.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Wolfe Research raised Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. Aletheia Capital raised their price objective on Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $354.24.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 89,484 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the transaction, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the company’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 SEC filing for this sale provides additional information. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

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.