Allianz Asset Management GmbH Cuts Stock Position in Celestica Inc. (NYSE:CLS)

Allianz Asset Management GmbH cut its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 8.7% in the fourth quarter, HoldingsChannel reports. The firm owned 684,919 shares of the technology company’s stock after selling 65,490 shares during the quarter. Allianz Asset Management GmbH’s holdings in Celestica were worth $63,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLS. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at $61,210,000. Whale Rock Capital Management LLC lifted its position in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after buying an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the last quarter. Natixis Advisors LLC lifted its position in Celestica by 1,697.3% in the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after buying an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd lifted its position in Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after buying an additional 183,300 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Celestica

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last three months. 1.00% of the stock is owned by corporate insiders.

Celestica Stock Performance

CLS stock opened at $119.41 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The business has a 50-day moving average price of $110.78 and a 200 day moving average price of $80.39. The company has a market capitalization of $13.89 billion, a P/E ratio of 31.93 and a beta of 2.27. Celestica Inc. has a 1-year low of $38.80 and a 1-year high of $144.27.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CLS. JPMorgan Chase & Co. began coverage on Celestica in a research report on Friday. They issued an “overweight” rating and a $166.00 price target for the company. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group raised their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.