CloudAlpha Capital Management Limited Hong Kong Buys New Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• CloudAlpha Capital Management Limited Hong Kong has acquired a new stake in Celestica, Inc., purchasing 382,640 shares valued at approximately $30.16 million, making it the firm's 8th largest holding.
• Several institutional investors, including FMR LLC and FIL Ltd, have significantly increased their positions in Celestica, with hedge funds now owning 67.38% of the company's stocks.
• Despite mixed analyst ratings, Celestica showed strong financial results in its last earnings report, exceeding profit expectations with a revenue of $2.65 billion.

CloudAlpha Capital Management Limited Hong Kong bought a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 382,640 shares of the technology company's stock, valued at approximately $30,156,000. Celestica makes up about 2.4% of CloudAlpha Capital Management Limited Hong Kong's investment portfolio, making the stock its 8th biggest holding. CloudAlpha Capital Management Limited Hong Kong owned 0.33% of Celestica at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC lifted its position in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. FIL Ltd lifted its position in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after buying an additional 3,406,723 shares during the last quarter. Norges Bank bought a new stake in Celestica in the fourth quarter worth $139,008,000. Polar Capital Holdings Plc lifted its position in Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after buying an additional 1,433,681 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after buying an additional 1,401,877 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. CIBC decreased their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 15th. Argus decreased their target price on Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Barclays reiterated an "overweight" rating and set a $146.00 target price (up from $126.00) on shares of Celestica in a research report on Tuesday, June 10th. Finally, Wall Street Zen downgraded Celestica from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and a consensus target price of $125.83.

Celestica Price Performance

CLS stock opened at $164.21 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 0.85. The firm has a market capitalization of $18.88 billion, a P/E ratio of 45.24 and a beta of 1.81. The business's 50-day moving average is $138.69 and its two-hundred day moving average is $112.96. Celestica, Inc. has a 1 year low of $40.25 and a 1 year high of $173.63.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a return on equity of 25.57% and a net margin of 4.26%. The business's quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Celestica 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.

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