Celestica CFO Mandeep Chawla sells $11 million in shares

Celestica Inc . (NYSE:CLS) Chief Financial Officer Mandeep Chawla recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Chawla sold 90,771 common shares on February 3, 2025, at a price of $122.28 per share, totaling approximately $11,099,477. The sale comes as Celestica (TSX:CLS)’s stock has delivered an impressive 289% return over the past year, with shares currently trading near their 52-week high of $144.27. InvestingPro analysis reveals the company maintains a "GREAT" overall financial health score.

Following this transaction, Chawla no longer holds any common shares of Celestica. However, on February 4, 2025, he was granted 7,611 restricted share units (RSUs), which will vest over a three-year period. Each RSU represents the right to receive one common share or an equivalent cash value at the holder’s election. For deeper insights into insider transactions and comprehensive financial analysis, InvestingPro subscribers can access detailed reports covering 1,400+ US stocks, including Celestica.

These transactions reflect Chawla’s ongoing management of his equity holdings in the company. Celestica, headquartered in Toronto, operates in the printed circuit boards industry and is listed on the New York Stock Exchange under the ticker CLS. The company currently trades at a P/E ratio of 39.2, with analysts forecasting earnings per share of $4.86 for fiscal year 2025.

In other recent news, Celestica’s stock target has seen multiple increases by financial firms due to strong performance and optimistic outlooks. RBC Capital Markets raised the target from $140 to $160, citing the company’s positive business trajectory and potential for earnings to surpass consensus estimates. Similarly, BMO Capital Markets revised the price target to $140, highlighting Celestica’s growing capabilities in the artificial intelligence sector and potential for increased capital expenditures.

In addition to these adjustments, Celestica announced the upcoming resignation of Laurette T. Koellner from its Board of Directors, effective January 31, 2025. The company confirmed that the departure is not due to any disagreements over operations, policies, or practices and has begun the process of finding a suitable replacement.

These developments follow previous actions by RBC Capital Markets, which had earlier increased the stock target from $115 to $140 after Celestica reported strong financial results and secured two significant new programs. These programs are expected to drive solid growth through 2026 and 2027, further enhancing Celestica’s growth outlook. The firm also increased the stock target from $75 to $115, anticipating a strong performance from Celestica in 2025.

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