Mirae Asset Global Investments Co. Ltd. Acquires 26,029 Shares of Celestica, Inc. $CLS

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,029 shares of the technology company’s stock, valued at approximately $9,408,000.

Several other large investors also recently bought and sold shares of CLS. Washington Trust Advisors Inc. purchased a new position in shares of Celestica in the second quarter valued at $28,000. Elevation Wealth Partners LLC purchased a new stake in shares of Celestica in the 3rd quarter worth about $28,000. Ascentis Independent Advisors acquired a new stake in Celestica in the 1st quarter valued at about $29,000. Latitude Advisors LLC acquired a new stake in Celestica in the 3rd quarter valued at about $40,000. Finally, Mather Group LLC. grew its stake in Celestica by 266.7% in the 3rd quarter. Mather Group LLC. now owns 121 shares of the technology company’s stock valued at $44,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Celestica from $445.00 to $485.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. UBS Group increased their price target on shares of Celestica from $430.00 to $453.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. BMO Capital Markets reissued an “outperform” rating and set a $400.00 price objective on shares of Celestica in a research note on Friday, October 23rd. Royal Bank Of Canada set a $450.00 price objective on Celestica and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Finally, Barclays upped their target price on Celestica from $406.00 to $414.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $453.32.

Celestica Price Performance

Celestica stock opened at $236.31 on Thursday. Celestica, Inc. has a 12-month low of $231.48 and a 12-month high of $474.02. The stock has a market capitalization of $29.80 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.70 and a beta of 2.10. The firm’s 50-day moving average is $321.56 and its two-hundred day moving average is $330.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.28. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. Equities analysts predict that Celestica, Inc. will post 10.93 earnings per share for the current year.

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 23,396 shares of Celestica stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total value of $8,521,291.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd Cooper sold 20,118 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the transaction, the president owned 73,252 shares of the company’s stock, valued at $26,370,720. This trade represents a 21.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 67,010 shares of company stock worth $24,278,487. 1.10% of the stock is owned by company insiders.

Celestica Company Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.