NorthCrest Asset Manangement LLC Sells 12,080 Shares of Celestica, Inc. $CLS

Key Points

• NorthCrest Asset Management LLC has reduced its stake in Celestica, Inc. by 79.5%, leaving it with only 3,120 shares worth approximately $497,000.
• Despite the reduction in holdings by some hedge funds, other institutions have significantly increased their stakes, with investments from Jones Financial Companies and BNP Paribas Financial Markets among others.
• The technology company reported earnings of $1.39 per share for the last quarter, surpassing the consensus estimate by $0.16, and experienced a year-over-year revenue increase of 21.0%.

NorthCrest Asset Manangement LLC cut its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 79.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,120 shares of the technology company's stock after selling 12,080 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Celestica were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Freedom Investment Management Inc. increased its stake in shares of Celestica by 1.5% in the first quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company's stock worth $501,000 after acquiring an additional 96 shares during the last quarter. First National Bank of Hutchinson increased its stake in shares of Celestica by 2.5% in the first quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company's stock worth $387,000 after acquiring an additional 120 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Celestica by 14.1% in the first quarter. Private Trust Co. NA now owns 993 shares of the technology company's stock worth $78,000 after acquiring an additional 123 shares during the last quarter. Bay Rivers Group increased its stake in shares of Celestica by 0.7% in the second quarter. Bay Rivers Group now owns 19,636 shares of the technology company's stock worth $3,065,000 after acquiring an additional 142 shares during the last quarter. Finally, Anchor Investment Management LLC increased its stake in shares of Celestica by 15.0% in the first quarter. Anchor Investment Management LLC now owns 1,150 shares of the technology company's stock worth $91,000 after acquiring an additional 150 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLS has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. CICC Research began coverage on shares of Celestica in a research report on Tuesday, August 19th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Celestica from $225.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. UBS Group reissued a "neutral" rating and set a $208.00 target price (up from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Celestica from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Celestica has a consensus rating of "Buy" and an average price target of $174.75.

Celestica Stock Performance

Shares of NYSE:CLS traded up $1.92 during midday trading on Monday, hitting $254.85. The company's stock had a trading volume of 2,211,367 shares, compared to its average volume of 4,203,414. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 55.16 and a beta of 1.89. The stock's 50 day simple moving average is $202.25 and its 200 day simple moving average is $140.75. Celestica, Inc. has a fifty-two week low of $48.77 and a fifty-two week high of $258.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44.

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, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.65 billion. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The firm's revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. As a group, research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current year.

About Celestica

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.