Franklin Resources Inc. Buys 803,780 Shares of Celestica Inc. (NYSE:CLS)

Franklin Resources Inc. grew its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 290.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,080,568 shares of the technology company’s stock after acquiring an additional 803,780 shares during the quarter. Franklin Resources Inc.’s holdings in Celestica were worth $99,735,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Celestica during the fourth quarter valued at about $139,008,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after buying an additional 1,401,877 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after buying an additional 975,163 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Celestica in the 4th quarter worth approximately $47,685,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after acquiring an additional 301,563 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CLS shares. Royal Bank of Canada lifted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays raised their price target on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last 90 days. Insiders own 1.00% of the company’s stock.

Celestica Stock Performance

CLS opened at $82.43 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The firm has a 50 day moving average of $105.80 and a two-hundred day moving average of $88.80. The firm has a market capitalization of $9.56 billion, a PE ratio of 22.04 and a beta of 2.21.

About Celestica

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.