Cim LLC Acquires New Holdings in Celestica Inc. (NYSE:CLS)

Cim LLC bought a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,425 shares of the technology company’s stock, valued at approximately $1,343,000.

Several other hedge funds also recently bought and sold shares of CLS. Price T Rowe Associates Inc. MD increased its stake in Celestica by 2,494.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after buying an additional 8,368,293 shares during the period. Point72 Asset Management L.P. boosted its stake in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the period. Point72 Hong Kong Ltd raised its stake in Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after acquiring an additional 1,309,257 shares during the last quarter. Driehaus Capital Management LLC raised its position in Celestica by 19,876.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Celestica by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after purchasing an additional 562,157 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Celestica stock opened at $49.61 on Wednesday. The stock has a market cap of $5.89 billion, a P/E ratio of 18.51 and a beta of 2.29. The stock has a 50 day moving average of $49.52 and a 200-day moving average of $50.78. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 52 week low of $20.87 and a 52 week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion for 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 company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. On average, analysts expect that Celestica Inc. will post 3.22 EPS for the current fiscal year.

Analyst Ratings Changes

CLS has been the topic of several research analyst reports. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, September 9th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their target price on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, CIBC increased their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Celestica Company 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.