101,676 Celestica, Inc. $CLS Shares Bought by Calamos Advisors LLC

Key Points

• Calamos Advisors increased its Celestica stake by 101,676 shares—a 3,035.1% rise in the third quarter—to 105,026 shares, valued at about $38 million.
• Analyst sentiment was broadly positive: Celestica had a consensus “Buy” rating and an average price target of $453.32, though one firm downgraded the stock to “Hold.”
• Celestica beat quarterly earnings and revenue estimates, reporting EPS of $3.30 and revenue of $5.74 billion. Shares traded at $206.77, well below their 52-week high of $474.02, while company insiders had sold 67,010 shares over the prior three months.

Calamos Advisors LLC lifted its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 3,035.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,026 shares of the technology company's stock after purchasing an additional 101,676 shares during the period. Calamos Advisors LLC owned 0.09% of Celestica worth $37,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Celestica during the first quarter worth about $68,952,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Celestica during the 3rd quarter worth approximately $27,821,000. K.J. Harrison & Partners Inc acquired a new position in shares of Celestica during the 2nd quarter worth approximately $1,092,000. Quantinno Capital Management LP increased its holdings in shares of Celestica by 73.7% during the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company's stock worth $6,746,000 after purchasing an additional 10,164 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Celestica during the third quarter worth approximately $2,217,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLS. Sanford C. Bernstein reiterated an "outperform" rating on shares of Celestica in a research note on Thursday, October 15th. JPMorgan Chase & Co. lifted their price objective on Celestica from $445.00 to $485.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Zacks Research raised Celestica from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Weiss Ratings downgraded Celestica from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 28th. Finally, Barclays increased their target price on Celestica from $406.00 to $414.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Celestica has a consensus rating of "Buy" and a consensus price target of $453.32.

Celestica Price Performance

Shares of NYSE CLS traded up $1.13 during trading hours on Friday, hitting $206.77. 3,704,638 shares of the stock were exchanged, compared to its average volume of 2,955,335. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.61. The company has a market cap of $26.08 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.63 and a beta of 2.10. The company's fifty day simple moving average is $317.31 and its two-hundred day simple moving average is $329.19. Celestica, Inc. has a 1-year low of $197.50 and a 1-year high of $474.02.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. On average, sell-side analysts predict that Celestica, Inc. will post 10.97 EPS for the current year.

Insiders Place Their Bets

In related news, President Todd Cooper sold 20,118 shares of the company's stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares in the company, valued at $26,370,720. This represents a 21.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Mionis sold 23,496 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the completion of the transaction, the chief executive officer directly owned 23,396 shares of the company's stock, valued at $8,478,476.44. This trade represents a 50.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 67,010 shares of company stock valued at $24,278,487 in the last three months. 1.10% of the stock is owned by insiders.

Celestica Company Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company's offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM's manufacturing operations and became an independent company in 1996.

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