Calamos Advisors LLC Trims Holdings in Celestica, Inc. $CLS

Key Points

• Calamos Advisors LLC sharply cut its Celestica stake by 71.8% in the first quarter, ending with 5,579 shares valued at about $1.57 million.
• Celestica’s latest earnings beat expectations, with Q1 EPS of $2.16 versus the $2.08 consensus, while revenue jumped 52.8% year over year to $3.96 billion.
• Wall Street remains upbeat on the stock, with multiple firms raising price targets and the average analyst rating sitting at “Buy” with a target price of $427.42.

Calamos Advisors LLC reduced its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 71.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,579 shares of the technology company's stock after selling 14,210 shares during the quarter. Calamos Advisors LLC's holdings in Celestica were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Celestica in the fourth quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new position in Celestica during the first quarter worth $29,000. Swiss RE Ltd. purchased a new position in shares of Celestica during the fourth quarter worth $29,000. Cullen Frost Bankers Inc. purchased a new position in shares of Celestica during the fourth quarter worth $30,000. Finally, Sittner & Nelson LLC acquired a new stake in shares of Celestica in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Down 3.0%

NYSE CLS opened at $334.62 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Celestica, Inc. has a 52 week low of $153.11 and a 52 week high of $474.02. The stock has a market capitalization of $38.47 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 0.80 and a beta of 2.05. The firm has a 50 day moving average of $370.09 and a two-hundred day moving average of $331.55.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Monday, April 27th. The technology company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.08. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Celestica had a net margin of 6.95% and a return on equity of 36.91%. The company's revenue was up 52.8% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Celestica has set its FY 2026 guidance at 10.150-10.150 EPS and its Q2 2026 guidance at 2.140-2.340 EPS. As a group, research analysts expect that Celestica, Inc. will post 9.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CLS. TD Cowen upgraded Celestica from a "hold" rating to a "buy" rating and boosted their price objective for the company from $350.00 to $430.00 in a report on Wednesday, April 29th. BMO Capital Markets raised their target price on Celestica from $370.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $480.00 target price on shares of Celestica in a research report on Wednesday, April 29th. Citigroup boosted their price target on shares of Celestica from $338.00 to $415.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, TD increased their price target on shares of Celestica from $330.00 to $350.00 and gave the stock a "hold" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen 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 an average target price of $427.42.

Insider Activity at Celestica

In other news, CFO Mandeep Chawla sold 17,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $399.65, for a total transaction of $6,794,050.00. Following the completion of the transaction, the chief financial officer directly owned 82,444 shares of the company's stock, valued at approximately $32,948,744.60. This represents a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Max Wilson sold 4,168 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total value of $1,389,236.08. Following the transaction, the director directly owned 24,718 shares of the company's stock, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 161,168 shares of company stock valued at $63,190,485 over the last quarter. 1.10% of the stock is owned by insiders.

Celestica Company 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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