Readystate Asset Management LP Invests $2 Million in Celestica, Inc. $CLS

Key Points

• Readystate Asset Management initiated a roughly $2 million position in Celestica by purchasing 5,471 shares during the second quarter. Institutional investors collectively own 67.38% of the company.
• Celestica reported strong quarterly results, with EPS of $2.54 exceeding estimates by $0.25 and revenue rising 62.4% year over year to $4.68 billion.
• Insiders sold approximately $135.2 million of stock over the past quarter, while Wall Street maintained a broadly positive view: 21 analysts rated the shares Buy, with a consensus price target of $439.81.

Readystate Asset Management LP bought a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,471 shares of the technology company's stock, valued at approximately $1,996,000.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Celestica in the 4th quarter worth approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Celestica in the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of Celestica in the 4th quarter valued at $30,000. Sittner & Nelson LLC purchased a new stake in Celestica during the fourth quarter worth $31,000. Finally, Ascentis Independent Advisors purchased a new stake in Celestica during the first quarter worth $29,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Celestica

In other Celestica 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 transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandeep Chawla sold 16,117 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total value of $5,952,330.44. Following the completion of the transaction, the chief financial officer owned 65,444 shares in the company, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 356,553 shares of company stock valued at $135,238,444. 1.10% of the stock is owned by company insiders.

Celestica Stock Performance

CLS opened at $312.84 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 32.52 and a beta of 2.04. Celestica, Inc. has a 52-week low of $227.00 and a 52-week high of $474.02. The firm's fifty day simple moving average is $326.86 and its two-hundred day simple moving average is $336.35.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.25. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business earned $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. Equities analysts anticipate that Celestica, Inc. will post 10.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLS. Stifel Nicolaus set a $500.00 price objective on shares of Celestica in a report on Tuesday, July 28th. Royal Bank Of Canada set a $450.00 target price on shares of Celestica and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. Weiss Ratings lowered Celestica from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Scotiabank began coverage on Celestica in a research note on Tuesday, August 11th. They issued a "sector outperform" rating and a $500.00 price target for the company. Finally, Bank of America reaffirmed a "buy" rating on shares of Celestica in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $439.81.

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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