William Blair Investment Management LLC Invests $28.92 Million in Celestica, Inc. $CLS

William Blair Investment Management LLC acquired a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, Holdings Channel.com reports. The firm acquired 117,396 shares of the technology company’s stock, valued at approximately $28,924,000.

Other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new position in shares of Celestica in the second quarter valued at $328,000. Allianz Asset Management GmbH increased its holdings in Celestica by 7.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock valued at $83,044,000 after buying an additional 22,863 shares during the period. Light Street Capital Management LLC bought a new stake in Celestica in the 2nd quarter valued at $26,422,000. TD Waterhouse Canada Inc. raised its stake in shares of Celestica by 2.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock valued at $22,356,000 after buying an additional 3,221 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in shares of Celestica by 154.5% during the 3rd quarter. Plato Investment Management Ltd now owns 15,046 shares of the technology company’s stock worth $3,676,000 after acquiring an additional 9,135 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 1,065 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jason Phillips sold 100,000 shares of the 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 sale, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 in the last 90 days. 0.52% of the stock is currently owned by insiders.

Celestica Price Performance

Shares of CLS stock opened at $267.20 on Tuesday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The stock has a market capitalization of $30.74 billion, a PE ratio of 37.22 and a beta of 1.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock’s fifty day moving average is $299.54 and its 200-day moving average is $283.15.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Barclays upped their price objective on Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Canaccord Genuity Group raised their target price on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $356.59.

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.