Prakash Investment Advisors LLC Invests $493,000 in Celestica, Inc. $CLS

Prakash Investment Advisors LLC purchased a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, HoldingsChannel reports. The firm purchased 2,000 shares of the technology company’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLS. MassMutual Private Wealth & Trust FSB boosted its position in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. World Equity Group Inc. raised its stake in shares of Celestica by 1.7% during the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after acquiring an additional 38 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of Celestica by 3.2% in the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock valued at $398,000 after purchasing an additional 50 shares during the period. McIlrath & Eck LLC grew its stake in Celestica by 43.3% in the third quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Celestica by 48.7% during the 3rd 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. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group upped their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. The Goldman Sachs Group increased their target price on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Bank of America initiated coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 target price on the stock. New Street Research set a $400.00 price target on shares of Celestica in a research report on Wednesday, October 29th. Finally, TD Cowen reissued a “hold” rating on shares of Celestica in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Stock Performance

Shares of CLS stock opened at $291.37 on Friday. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The business’s fifty day simple moving average is $300.30 and its 200-day simple moving average is $277.98. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market cap of $33.52 billion, a PE ratio of 40.58 and a beta of 1.86.

Insider Activity at Celestica

In other news, President Jason Phillips sold 100,000 shares of the company’s 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 transaction, the president owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

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.