Bank of America Corp DE Takes $444.90 Million Position in Celestica, Inc. $CLS

Key Points

• Bank of America acquired a new $444.9 million stake in Celestica during the second quarter, purchasing 1.22 million shares and owning approximately 1.06% of the company. Institutional investors collectively hold 67.38% of Celestica.
• Celestica exceeded quarterly expectations, reporting $2.54 in EPS and $4.68 billion in revenue, with revenue rising 62.4% year over year. Analysts maintain a consensus “Buy” rating and an average price target of $436.86.
• Celestica’s CEO and CFO sold shares worth roughly $42.3 million in early August, while insiders sold $73.4 million of stock over the past 90 days.

Bank of America Corp DE bought a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,219,570 shares of the technology company's stock, valued at approximately $444,899,000. Bank of America Corp DE owned about 1.06% of Celestica at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Celestica by 24.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock valued at $1,187,650,000 after buying an additional 798,782 shares during the last quarter. Cibc World Market Inc. acquired a new position in Celestica during the second quarter worth $757,811,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Celestica in the 2nd quarter valued at about $674,199,000. Franklin Resources Inc. lifted its position in shares of Celestica by 18.6% in the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company's stock valued at $673,471,000 after acquiring an additional 356,797 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Celestica by 25.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,637,367 shares of the technology company's stock valued at $484,022,000 after purchasing an additional 332,641 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Price Performance

CLS stock opened at $316.49 on Wednesday. The firm has a 50 day moving average of $324.30 and a 200-day moving average of $337.78. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 32.90 and a beta of 2.04. Celestica, Inc. has a 12-month low of $227.00 and a 12-month high of $474.02. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Monday, July 27th. The technology company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.29 by $0.25. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.30 billion. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The company's quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, equities analysts expect that Celestica, Inc. will post 10.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CLS shares. Royal Bank Of Canada set a $450.00 price objective on Celestica and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. Weiss Ratings downgraded shares of Celestica from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Stifel Nicolaus set a $500.00 price objective on shares of Celestica in a research note on Tuesday, July 28th. Scotiabank started coverage on Celestica in a research note on Tuesday, August 11th. They issued a "sector outperform" rating and a $500.00 price objective on the stock. Finally, UBS Group raised shares of Celestica from a "neutral" rating to a "buy" rating and raised their target price for the company from $410.00 to $430.00 in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of "Buy" and a consensus price target of $436.86.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 98,453 shares of Celestica stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $368.99, for a total transaction of $36,328,172.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mandeep Chawla sold 16,117 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 represents a 19.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 199,553 shares of company stock worth $73,437,196 in the last 90 days. 1.10% of the stock is currently owned by insiders.

About Celestica

Celestica Inc NYSE: CLS is a global provider of design, manufacturing, and supply chain solutions for technology companies and other businesses. The company helps customers develop, manufacture, and support complex electronic products and systems, offering services that span product design and engineering, prototyping, printed circuit board assembly, systems integration, testing, supply chain management, and after-market support.

Celestica serves customers across several markets, including communications and cloud infrastructure, aerospace and defense, industrial technology, health technology, and capital equipment.

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