8,000 Shares in Celestica, Inc. $CLS Bought by Long Corridor Asset Management Ltd

Key Points

• Long Corridor Asset Management initiated a position in Celestica by purchasing 8,000 shares valued at approximately $2.9 million, representing 0.9% of its portfolio. Institutional investors collectively own 67.38% of the company.
• Celestica reported strong quarterly results, with earnings of $2.54 per share versus a $2.29 consensus estimate and revenue of $4.68 billion, up 62.4% year over year.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $438.86, although company insiders have sold $135.2 million worth of shares over the past three months.

Long Corridor Asset Management Ltd acquired a new position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,000 shares of the technology company's stock, valued at approximately $2,918,000. Celestica comprises about 0.9% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 24th largest position.

A number of other institutional investors have also recently bought and sold shares of CLS. Northwestern Mutual Wealth Management Co. raised its stake in shares of Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company's stock worth $1,081,323,000 after purchasing an additional 3,657,874 shares during the period. Viking Global Investors LP bought a new position in Celestica during the third quarter valued at about $424,459,000. Norges Bank bought a new position in Celestica during the fourth quarter valued at about $456,511,000. AQR Capital Management LLC purchased a new stake in Celestica during the fourth quarter worth about $315,497,000. Finally, JPMorgan Chase & Co. increased its holdings in Celestica by 24.8% during the fourth quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock worth $1,187,650,000 after buying an additional 798,782 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

Insiders Place Their Bets

In other news, CEO Robert Mionis sold 23,496 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $362.39, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mandeep Chawla sold 16,117 shares of Celestica stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total value of $5,952,330.44. Following the completion of the transaction, the chief financial officer owned 65,444 shares of the company's stock, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 356,553 shares of company stock worth $135,238,444 in the last three months. Insiders own 1.10% of the company's stock.

Celestica Price Performance

Shares of NYSE:CLS opened at $296.03 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $34.04 billion, a PE ratio of 30.77 and a beta of 2.06. Celestica, Inc. has a twelve month low of $179.01 and a twelve month high of $474.02. The company has a 50-day moving average price of $341.15 and a two-hundred day moving average price of $335.16.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.25. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.30 billion. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The company's revenue was up 62.4% on a year-over-year basis. During the same quarter last year, the company earned $1.39 earnings per share. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. Equities analysts forecast that Celestica, Inc. will post 10.15 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CLS shares. Citigroup boosted their target price on shares of Celestica from $338.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. BWS Financial restated a "buy" rating on shares of Celestica in a research note on Tuesday, July 28th. Susquehanna lifted their price target on shares of Celestica from $460.00 to $510.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Zacks Research upgraded Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Celestica from $480.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $438.86.

Celestica 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.

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