Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Celestica, Inc. $CLS

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,846,032 shares of the technology company's stock, valued at approximately $674,199,000. Celestica accounts for about 1.3% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 16th biggest position. Connor Clark & Lunn Investment Management Ltd. owned 1.61% of Celestica as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Celestica in the 4th quarter valued at about $28,000. Ascentis Independent Advisors bought a new position in Celestica during the 1st quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in Celestica during the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in Celestica during the fourth quarter valued at approximately $30,000. Finally, Sittner & Nelson LLC bought a new stake in Celestica in the fourth quarter valued at approximately $31,000. Institutional investors own 67.38% of the company's stock.

Analyst Ratings Changes

CLS has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce boosted their price target on shares of Celestica from $480.00 to $500.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. TD Cowen raised Celestica from a "hold" rating to a "buy" rating and raised their price objective for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. Scotiabank started coverage on Celestica in a report on Tuesday, August 11th. They set a "sector outperform" rating and a $500.00 target price on the stock. Rothschild & Co Redburn began coverage on Celestica in a research note on Friday, May 1st. They issued a "buy" rating and a $460.00 target price for the company. Finally, Citigroup increased their price target on Celestica from $338.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $439.81.

Insider Transactions at Celestica

In related news, CFO Mandeep Chawla sold 16,117 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $369.32, for a total transaction of $5,952,330.44. Following the completion of the transaction, the chief financial officer directly owned 65,444 shares in the company, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 23,496 shares of Celestica stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the completion of the sale, the chief executive officer directly owned 23,396 shares in the company, valued at approximately $8,478,476.44. This represents a 50.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 356,553 shares of company stock worth $135,238,444. Corporate insiders own 1.10% of the company's stock.

Celestica Stock Down 0.2%

Shares of CLS stock opened at $296.03 on Monday. Celestica, Inc. has a 12-month low of $179.01 and a 12-month high of $474.02. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $341.15 and a 200-day moving average of $335.51. The company has a market capitalization of $34.04 billion, a price-to-earnings ratio of 30.77 and a beta of 2.06.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data 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 analysts' expectations of $4.30 billion. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The firm's revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. 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 research analysts predict that Celestica, Inc. will post 10.15 earnings per share for the current fiscal year.

About Celestica

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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