Kingsview Wealth Management LLC Takes $1.46 Million Position in Celestica, Inc. $CLS

Key Points

• Kingsview Wealth Management initiated a $1.46 million position in Celestica during the second quarter, while institutional investors collectively own 67.38% of the company.
• Celestica reported strong quarterly results, with earnings of $2.54 per share and revenue of $4.68 billion, up 62.4% year over year and above analyst expectations.
• Shares recently traded down 5.8% to $298.87. Analysts remain broadly bullish, with an average “Buy” rating and a $439.81 price target, although company insiders have sold more than $135 million in stock over the past 90 days.

Kingsview Wealth Management LLC purchased a new stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,012 shares of the technology company's stock, valued at approximately $1,464,000.

Several other hedge funds have also recently bought and sold shares of the business. Legacy Wealth Managment LLC ID grew its stake in Celestica by 14.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company's stock valued at $63,000 after acquiring an additional 28 shares in the last quarter. Capital Planning LLC lifted its position in shares of Celestica by 3.2% in the first quarter. Capital Planning LLC now owns 1,025 shares of the technology company's stock worth $289,000 after purchasing an additional 32 shares in the last quarter. PCB Capital LLC boosted its holdings in shares of Celestica by 3.5% during the first quarter. PCB Capital LLC now owns 995 shares of the technology company's stock worth $280,000 after purchasing an additional 34 shares during the period. Avantax Planning Partners Inc. grew its position in Celestica by 2.7% during the fourth quarter. Avantax Planning Partners Inc. now owns 1,528 shares of the technology company's stock valued at $452,000 after purchasing an additional 40 shares in the last quarter. Finally, Park Square Financial Group LLC grew its position in Celestica by 36.3% during the fourth quarter. Park Square Financial Group LLC now owns 154 shares of the technology company's stock valued at $46,000 after purchasing an additional 41 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Trading Down 5.8%

Shares of NYSE:CLS opened at $298.87 on Friday. The stock has a market capitalization of $34.36 billion, a PE ratio of 31.07 and a beta of 2.06. Celestica, Inc. has a 1 year low of $183.66 and a 1 year high of $474.02. The firm has a fifty day moving average price of $333.42 and a 200 day moving average price of $335.61. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%.The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $1.39 earnings per share. The business's revenue was up 62.4% compared to the same quarter last year. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. Analysts expect that Celestica, Inc. will post 10.71 EPS for the current fiscal year.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 23,496 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was 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. The trade was a 50.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mandeep Chawla sold 16,117 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $369.32, for a total value of $5,952,330.44. Following the sale, the chief financial officer directly owned 65,444 shares of the company's stock, valued at $24,169,778.08. The trade was a 19.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 356,553 shares of company stock valued at $135,238,444. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CLS. Barclays cut their target price on shares of Celestica from $430.00 to $406.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Bank of America reissued a "buy" rating on shares of Celestica in a research report on Wednesday, July 29th. Wolfe Research boosted their target price on Celestica from $425.00 to $475.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Scotiabank began coverage on Celestica in a research note on Tuesday, August 11th. They set a "sector outperform" rating and a $500.00 price target for the company. Finally, Wall Street Zen lowered Celestica from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $439.81.

Celestica Company 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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