LPL Financial LLC Increases Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• LPL Financial LLC increased its stake in Celestica, Inc. (NYSE: CLS) by 2.5%, owning 158,302 shares worth approximately $12.5 million at the end of Q1 2023.
• Other institutional investors, such as Invesco Ltd. and Dimensional Fund Advisors LP, also significantly raised their stakes in Celestica during the fourth quarter, with ownership among institutional investors now at 67.38%.
• Analysts have upgraded their price targets for Celestica, with recent targets ranging as high as $240, indicating strong investor confidence in the company, which has a current consensus rating of "Buy."

LPL Financial LLC raised its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,302 shares of the technology company's stock after buying an additional 3,931 shares during the period. LPL Financial LLC owned about 0.14% of Celestica worth $12,476,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CLS. Invesco Ltd. increased its stake in shares of Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after acquiring an additional 494,542 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Celestica by 49.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock worth $200,601,000 after buying an additional 719,805 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in shares of Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after buying an additional 1,433,681 shares during the last quarter. Capital World Investors lifted its holdings in Celestica by 40.3% during the fourth quarter. Capital World Investors now owns 1,313,420 shares of the technology company's stock valued at $121,229,000 after purchasing an additional 377,246 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Celestica by 23.0% during the fourth quarter. Royal Bank of Canada now owns 1,261,172 shares of the technology company's stock valued at $116,406,000 after purchasing an additional 236,124 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Stock Up 1.2%

Shares of CLS opened at $200.93 on Friday. The firm has a market cap of $23.11 billion, a P/E ratio of 43.49 and a beta of 1.80. Celestica, Inc. has a 12-month low of $40.65 and a 12-month high of $214.47. The company's 50-day moving average price is $154.25 and its 200 day moving average price is $119.07. The company has a current ratio of 1.44, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CLS shares. Canaccord Genuity Group lifted their price objective on shares of Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Barclays increased their target price on shares of Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup raised their price target on shares of Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, BNP Paribas raised shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Celestica presently has a consensus rating of "Buy" and an average price target of $168.92.

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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