Celestica president Jason Phillips sells $11.7 million in shares

In a recent transaction, Jason Phillips, President of Celestica Inc . (NYSE:CLS), sold 95,979 common shares of the company. The stock has been a stellar performer, surging 289% over the past year to reach $143.67, near its 52-week high of $144.27. According to InvestingPro data, the company now commands a market capitalization of $16.7 billion. The shares were sold on February 3, 2025, at a price of $122.28 per share, amounting to a total of approximately $11.7 million. Following this sale, Phillips no longer holds any common shares directly.

Additionally, on February 4, 2025, Phillips was granted 7,611 restricted share units (RSUs), which will vest over a three-year period. Each RSU represents a contingent right to receive one common share or an equivalent value in cash, according to the holder’s election. After this grant, Phillips holds 7,611 RSUs directly.

In other recent news, Celestica (TSX:CLS) has seen a series of target price increases from RBC Capital Markets and BMO Capital Markets. RBC Capital Markets has raised its target price for Celestica three times, from $115 to $140, and recently to $160, maintaining an Outperform rating each time. The firm’s analysts point to Celestica’s strong financial performance, new program wins, and distinctive product offerings as driving factors. BMO Capital Markets also increased its target price for Celestica to $140, emphasizing the company’s potential in the artificial intelligence (AI) sector.

In other developments, Celestica announced the upcoming resignation of Laurette T. Koellner from its Board of Directors, effective January 31, 2025, due to personal reasons. The company clarified that her departure is not related to any disagreements over operations, policies, or practices and has begun the process of finding a suitable replacement.

These are recent developments in Celestica’s trajectory, reflecting the company’s strong positioning in the market and its strategic initiatives. The increased price targets from RBC Capital and BMO Capital indicate their confidence in Celestica’s growth potential and its ability to capitalize on new opportunities. However, the upcoming change in the company’s Board of Directors is a noteworthy event, as the board plays a crucial role in corporate governance and strategic direction.

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