Hsbc Holdings PLC Grows Stock Holdings in Celestica, Inc. $CLS

Key Points

• HSBC increased its Celestica stake by 794.4% in the first quarter, bringing its holdings to 7,137 shares valued at approximately $1.995 million. Institutional investors collectively own 67.38% of the company.
• Analysts remain broadly bullish: Celestica has a consensus “Buy” rating and an average price target of $427.42, with several firms recently raising targets or issuing strong-buy recommendations.
• Celestica reported quarterly EPS of $2.16, exceeding estimates, while revenue rose 52.8% year over year to $3.96 billion. However, insiders sold $63.2 million worth of shares over the past 90 days, including sales by the CEO and a director.

Hsbc Holdings PLC boosted its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 794.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,137 shares of the technology company's stock after purchasing an additional 6,339 shares during the period. Hsbc Holdings PLC's holdings in Celestica were worth $1,995,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management increased its stake in Celestica by 354.3% in the 4th quarter. Spire Wealth Management now owns 5,979 shares of the technology company's stock worth $1,767,000 after buying an additional 4,663 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Celestica by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 436,922 shares of the technology company's stock valued at $129,499,000 after acquiring an additional 31,086 shares in the last quarter. Norges Bank bought a new position in shares of Celestica in the fourth quarter worth about $456,511,000. Marietta Investment Partners LLC bought a new position in shares of Celestica in the fourth quarter worth about $1,273,000. Finally, BW Gestao de Investimentos Ltda. boosted its stake in shares of Celestica by 29.9% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 31,179 shares of the technology company's stock worth $9,217,000 after acquiring an additional 7,179 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Zacks Research raised Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. Bank of America upped their price target on Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $475.00 price objective on shares of Celestica in a report on Tuesday, April 28th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and set a $480.00 price objective on shares of Celestica in a research report on Wednesday, April 29th. Finally, Citigroup boosted their target price on shares of Celestica from $338.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $427.42.

Insider Transactions at Celestica

In other Celestica news, Director Michael Max Wilson sold 4,168 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $333.31, for a total transaction of $1,389,236.08. Following the transaction, the director owned 24,718 shares in the company, valued at $8,238,756.58. The trade was a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Robert Mionis sold 18,176 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $385.17, for a total transaction of $7,000,849.92. Following the completion of the sale, the chief executive officer directly owned 60,384 shares in the company, valued at approximately $23,258,105.28. This represents a 23.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 161,168 shares of company stock valued at $63,190,485 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Celestica Price Performance

NYSE:CLS opened at $305.05 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $35.07 billion, a P/E ratio of 36.89, a P/E/G ratio of 0.71 and a beta of 2.05. Celestica, Inc. has a 12 month low of $164.52 and a 12 month high of $474.02. The business's 50-day moving average is $362.06 and its 200 day moving average is $332.50.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings results on Monday, April 27th. The technology company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.08. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm's revenue was up 52.8% on a year-over-year basis. On average, equities research analysts forecast that Celestica, Inc. will post 9.57 earnings per share for the current fiscal year.

Celestica 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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