Assenagon Asset Management S.A. Acquires New Position in Celestica, Inc. (NYSE:CLS)

Assenagon Asset Management S.A. acquired a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,267 shares of the technology company's stock, valued at approximately $415,000.

A number of other hedge funds have also made changes to their positions in CLS. FMR LLC raised its stake in Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. FIL Ltd grew its holdings in shares of Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after purchasing an additional 3,406,723 shares during the last quarter. Norges Bank acquired a new stake in shares of Celestica during the fourth quarter worth about $139,008,000. Polar Capital Holdings Plc lifted its holdings in shares of Celestica by 822.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after purchasing an additional 1,433,681 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Stock Performance

NYSE CLS traded down $0.99 during trading hours on Friday, hitting $135.27. 2,590,140 shares of the stock were exchanged, compared to its average volume of 3,309,886. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.59. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 37.26 and a beta of 1.74. Celestica, Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The stock has a 50-day moving average of $106.25 and a 200 day moving average of $102.32.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. Celestica had a return on equity of 25.57% and a net margin of 4.26%. The firm's quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities research analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Argus cut their price target on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Wall Street Zen downgraded shares of Celestica from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. BNP Paribas raised shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has an average rating of "Buy" and an average price target of $116.64.

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.