Cynosure Group LLC Makes New Investment in Celestica, Inc. (NYSE:CLS)

Key Points

• Cynosure Group LLC has invested approximately $335,000 in Celestica, acquiring 4,254 shares of the technology company in the first quarter.
• Several large investors have increased their stakes in Celestica, including Townsquare Capital LLC, which raised its position by 165.4%.
• Celestica's stock has shown significant performance, reaching a 52-week high of $214.47, with a current market cap of $23.93 billion.

Cynosure Group LLC purchased a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,254 shares of the technology company's stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new position in shares of Celestica during the 1st quarter worth $26,000. ORG Partners LLC acquired a new position in shares of Celestica during the 1st quarter worth $29,000. Center for Financial Planning Inc. bought a new stake in Celestica during the 1st quarter worth $30,000. Bessemer Group Inc. bought a new stake in Celestica during the 4th quarter worth $42,000. Finally, Farther Finance Advisors LLC grew its position in Celestica by 1,516.7% during the 1st quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock worth $54,000 after acquiring an additional 637 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group reiterated a "neutral" rating and issued a $208.00 price objective (up previously from $101.00) on shares of Celestica in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Argus reduced their price target on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada upped their price target on Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $168.92.

Celestica Price Performance

NYSE:CLS traded down $2.37 during trading hours on Friday, hitting $194.27. 1,455,973 shares of the company's stock traded hands, compared to its average volume of 4,365,271. The firm has a market cap of $22.35 billion, a P/E ratio of 42.06 and a beta of 1.80. Celestica, Inc. has a 52 week low of $40.65 and a 52 week high of $218.80. The business's fifty day simple moving average is $162.95 and its two-hundred day simple moving average is $122.20. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.65 billion. Celestica had a return on equity of 28.23% and a net margin of 5.11%. The company's revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, research 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.