Cumberland Partners Ltd Boosts Position in Celestica, Inc. (NYSE:CLS)

Key Points

• Cumberland Partners Ltd increased its stake in Celestica, Inc. by 43.4% during Q1, totaling 5,450 shares worth approximately $430,000.
• Several hedge funds significantly boosted their positions in Celestica, with FMR LLC increasing its shares by 91.2% in Q4, now owning shares valued at over $1 billion.
• Analysts have raised their price targets for Celestica, with Canaccord Genuity setting a new target of $240.00 while maintaining a "buy" rating, indicating strong confidence in the company's future growth.

Cumberland Partners Ltd boosted its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 43.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,450 shares of the technology company's stock after acquiring an additional 1,650 shares during the quarter. Cumberland Partners Ltd's holdings in Celestica were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CLS. FMR LLC increased its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after acquiring an additional 5,574,342 shares during the last quarter. FIL Ltd increased its position in Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock valued at $319,662,000 after acquiring an additional 3,406,723 shares during the last quarter. Polar Capital Holdings Plc increased its position in Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after acquiring an additional 1,433,681 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Celestica by 799.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 802,227 shares of the technology company's stock valued at $74,044,000 after acquiring an additional 916,991 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock valued at $200,601,000 after acquiring an additional 719,805 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CLS shares. Canaccord Genuity Group boosted their price target on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group reissued a "neutral" rating and set a $208.00 price target (up previously from $101.00) on shares of Celestica in a report on Wednesday. Citigroup boosted their price target on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday. CIBC cut their price target on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Finally, Barclays boosted their price target on Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $168.92.

Celestica Trading Down 2.5%

Shares of NYSE CLS opened at $194.84 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44. The business's 50 day moving average price is $147.75 and its 200-day moving average price is $116.70. Celestica, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $214.47. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 42.17 and a beta of 1.80.

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.

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