Mitsubishi UFJ Asset Management Co. Ltd. Buys New Stake in Celestica, Inc. $CLS

Key Points

• Mitsubishi UFJ Asset Management purchased 5,994 Celestica shares worth approximately $2.19 million, while institutional investors collectively own 67.38% of the company.
• Celestica reported strong quarterly results, with EPS of $2.54 versus the $2.29 consensus estimate and revenue of $4.68 billion, up 62.4% year over year.
• Shares opened at $296.03, down 2.0%, despite analysts maintaining a broadly positive view: the stock has a “Moderate Buy” consensus rating and an average price target of $438.86. Insiders, however, sold roughly $135.2 million of shares over the past three months.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,994 shares of the technology company's stock, valued at approximately $2,187,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Celestica by 5,806,149.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company's stock worth $1,081,323,000 after purchasing an additional 3,657,874 shares during the last quarter. Viking Global Investors LP purchased a new stake in shares of Celestica in the 3rd quarter valued at about $424,459,000. Norges Bank acquired a new stake in shares of Celestica in the 4th quarter valued at about $456,511,000. AQR Capital Management LLC acquired a new stake in shares of Celestica in the 4th quarter valued at about $315,497,000. Finally, JPMorgan Chase & Co. grew its stake in Celestica by 24.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock worth $1,187,650,000 after buying an additional 798,782 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Down 2.0%

Celestica stock opened at $296.03 on Friday. The stock has a 50 day moving average of $341.15 and a two-hundred day moving average of $335.16. Celestica, Inc. has a twelve month low of $179.01 and a twelve month high of $474.02. The stock has a market capitalization of $34.04 billion, a price-to-earnings ratio of 30.77 and a beta of 2.06. 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 released its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%.The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company's revenue for the quarter 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. As a group, research analysts expect that Celestica, Inc. will post 10.15 earnings per share for the current year.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 98,453 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $368.99, for a total value of $36,328,172.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mandeep Chawla sold 17,000 shares of Celestica stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $399.65, for a total transaction of $6,794,050.00. Following the completion of the sale, the chief financial officer directly owned 82,444 shares in the company, valued at approximately $32,948,744.60. The trade was a 17.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 356,553 shares of company stock worth $135,238,444 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CLS shares. Bank of America reiterated a "buy" rating on shares of Celestica in a research note on Wednesday, July 29th. Susquehanna raised their target price on shares of Celestica from $460.00 to $510.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Celestica from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Wolfe Research upped their price target on shares of Celestica from $425.00 to $475.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, BWS Financial reiterated a "buy" rating on shares of Celestica in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $438.86.

About Celestica

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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