Light Street Capital Management LLC Sells 6,595 Shares of Celestica Inc. (NYSE:CLS)

Light Street Capital Management LLC cut its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,080 shares of the technology company's stock after selling 6,595 shares during the period. Celestica comprises approximately 4.2% of Light Street Capital Management LLC's portfolio, making the stock its 6th largest position. Light Street Capital Management LLC owned approximately 0.21% of Celestica worth $22,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd raised its stake in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Celestica during the 4th quarter valued at approximately $42,000. R Squared Ltd purchased a new stake in Celestica during the 4th quarter valued at approximately $51,000. Finally, IFP Advisors Inc raised its stake in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock valued at $62,000 after acquiring an additional 368 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CLS shares. TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 price target on shares of Celestica in a research note on Monday, April 28th. Finally, Argus dropped their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Celestica presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.42.

Celestica Price Performance

CLS traded down $1.96 on Thursday, hitting $111.49. 2,887,593 shares of the company were exchanged, compared to its average volume of 3,210,935. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The business's fifty day moving average is $87.39 and its 200 day moving average is $95.44. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27. The firm has a market capitalization of $12.89 billion, a P/E ratio of 29.81 and a beta of 1.65.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company's quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, sell-side analysts anticipate that Celestica Inc. will post 4.35 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.