Apis Capital Advisors LLC Sells 133,700 Shares of Celestica Inc. (NYSE:CLS)

Apis Capital Advisors LLC lessened its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 44.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,900 shares of the technology company’s stock after selling 133,700 shares during the quarter. Celestica accounts for approximately 7.0% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Apis Capital Advisors LLC owned 0.14% of Celestica worth $9,511,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CLS. Price T Rowe Associates Inc. MD grew its holdings in shares of Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after acquiring an additional 8,368,293 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in Celestica by 411.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock worth $47,654,000 after buying an additional 1,309,257 shares during the last quarter. Norges Bank bought a new stake in Celestica during the fourth quarter worth $26,755,000. Finally, Vanguard Group Inc. grew its position in shares of Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after acquiring an additional 562,157 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of research analyst reports. CIBC upped their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Canaccord Genuity Group lifted their target price on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $58.38.

Celestica Price Performance

Shares of Celestica stock opened at $48.73 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 18.18 and a beta of 2.29. Celestica Inc. has a twelve month low of $20.87 and a twelve month high of $63.49. The company has a 50-day simple moving average of $50.45 and a two-hundred day simple moving average of $50.55.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts forecast that Celestica Inc. will post 3.22 EPS for the current year.

Celestica Profile

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.