Corient Private Wealth LLC Buys 6,718 Shares of Celestica, Inc. $CLS

Corient Private Wealth LLC boosted its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 80.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,115 shares of the technology company’s stock after acquiring an additional 6,718 shares during the period. Corient Private Wealth LLC’s holdings in Celestica were worth $2,360,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Celestica in the second quarter worth about $236,069,000. Voya Investment Management LLC increased its stake in Celestica by 362.8% in the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after acquiring an additional 1,453,473 shares during the last quarter. Alkeon Capital Management LLC purchased a new stake in shares of Celestica during the 1st quarter worth approximately $96,936,000. SRS Investment Management LLC bought a new position in shares of Celestica during the 2nd quarter valued at approximately $135,289,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Celestica by 405.5% in the first quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock valued at $57,684,000 after purchasing an additional 587,145 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CLS shares. JPMorgan Chase & Co. increased their price objective on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. Wall Street Zen lowered Celestica from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. BNP Paribas reissued an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research note on Thursday, September 25th. Finally, New Street Research set a $400.00 price objective on Celestica in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Insider Transactions at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by company insiders.

Celestica Price Performance

Shares of CLS stock opened at $306.16 on Tuesday. The stock has a 50 day moving average price of $311.60 and a 200 day moving average price of $235.06. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The firm has a market capitalization of $35.21 billion, a P/E ratio of 49.70 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current year.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.