Alkeon Capital Management LLC Invests $96.94 Million in Celestica, Inc. $CLS

Key Points

• Alkeon Capital Management LLC has made a new investment of approximately $96.94 million in Celestica, acquiring 1,230,000 shares in the process.
• Celestica's stock has seen significant support from analysts, with several raising their price targets to levels as high as $240.00, indicating a strong overall bullish sentiment.
• The company's recent quarterly earnings exceeded expectations, reporting $1.39 earnings per share against a consensus estimate of $1.23, with year-over-year revenue growth of 21.0%.

Alkeon Capital Management LLC acquired a new stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,230,000 shares of the technology company's stock, valued at approximately $96,936,000. Alkeon Capital Management LLC owned about 1.06% of Celestica at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of Celestica during the first quarter valued at $26,000. ORG Partners LLC purchased a new stake in shares of Celestica during the first quarter valued at $29,000. Center for Financial Planning Inc. purchased a new stake in shares of Celestica during the first quarter valued at $30,000. Farther Finance Advisors LLC boosted its position in shares of Celestica by 1,516.7% during the first quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock valued at $54,000 after buying an additional 637 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Celestica by 8,910.0% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 901 shares of the technology company's stock valued at $71,000 after buying an additional 891 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 brokerages have issued reports on CLS. Royal Bank Of Canada raised their target price on Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. BMO Capital Markets reissued an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. BNP Paribas raised Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Barclays raised their target price on Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $168.92.

Celestica Price Performance

NYSE:CLS traded up $21.49 during trading hours on Friday, reaching $242.83. The stock had a trading volume of 7,692,106 shares, compared to its average volume of 2,812,783. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. Celestica, Inc. has a 52 week low of $40.65 and a 52 week high of $257.40. The company has a 50 day moving average price of $183.98 and a two-hundred day moving average price of $130.46. The stock has a market capitalization of $27.93 billion, a PE ratio of 52.56 and a beta of 1.89.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data on Monday, July 28th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company's revenue was up 21.0% compared to the same quarter last year. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. As a group, sell-side analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

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.