JPMorgan Chase & Co. Has $9.93 Million Holdings in Celestica Inc (CLS)

JPMorgan Chase & Co. lessened its stake in Celestica Inc (NYSE:CLS) (TSE:CLS) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 803,744 shares of the technology company’s stock after selling 113,890 shares during the quarter. JPMorgan Chase & Co. owned about 0.56% of Celestica worth $9,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new position in shares of Celestica during the 2nd quarter valued at approximately $140,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Celestica by 5.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock valued at $149,000 after buying an additional 579 shares during the last quarter. AXA boosted its stake in shares of Celestica by 8.2% during the 2nd quarter. AXA now owns 15,800 shares of the technology company’s stock valued at $215,000 after buying an additional 1,200 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in shares of Celestica during the 2nd quarter valued at approximately $217,000. Finally, FineMark National Bank & Trust purchased a new position in shares of Celestica during the 3rd quarter valued at approximately $307,000. Hedge funds and other institutional investors own 68.51% of the company’s stock.

Shares of Celestica Inc (CLS) opened at $10.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 2.01. The stock has a market capitalization of $1,510.00, a P/E ratio of 13.69 and a beta of 0.71. Celestica Inc has a 52-week low of $9.79 and a 52-week high of $14.74.

Celestica announced that its Board of Directors has authorized a stock buyback program on Thursday, October 26th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

CLS has been the topic of several research reports. TheStreet lowered Celestica from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Royal Bank of Canada dropped their price target on Celestica from $15.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Friday, October 27th. Canaccord Genuity reissued a “buy” rating and set a $14.00 price target on shares of Celestica in a research report on Friday, October 27th. Finally, TD Securities dropped their price target on Celestica from $13.50 to $11.50 and set a “hold” rating on the stock in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $13.93.

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About Celestica

Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

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Institutional Ownership by Quarter for Celestica (NYSE:CLS)

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