Rockport Wealth LLC Sells 3,185 Shares of Celestica, Inc. $CLS

Key Points

• Rockport Wealth LLC cut its Celestica stake by 5.2% in the first quarter, selling 3,185 shares and ending with 57,812 shares valued at about $16.3 million.
• Celestica shares were down 3.0% in Thursday trading, with the stock opening at $334.62 and trading below its 50-day average but above its 200-day average.
• The company beat earnings expectations in its latest quarter, reporting $2.16 EPS versus $2.08 expected, while revenue rose 52.8% year over year; analysts currently rate the stock a Buy with a consensus price target of $427.42.

Rockport Wealth LLC decreased its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 5.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,812 shares of the technology company's stock after selling 3,185 shares during the quarter. Celestica accounts for about 3.0% of Rockport Wealth LLC's portfolio, making the stock its 11th largest holding. Rockport Wealth LLC owned approximately 0.05% of Celestica worth $16,277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CLS. Vanguard Group Inc. increased its holdings in shares of Celestica by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,811,695 shares of the technology company's stock worth $1,423,333,000 after purchasing an additional 73,022 shares during the period. JPMorgan Chase & Co. raised its position in shares of Celestica by 24.8% in the fourth quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock valued at $1,187,650,000 after buying an additional 798,782 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Celestica by 5,806,149.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company's stock valued at $1,081,323,000 after buying an additional 3,657,874 shares during the period. Franklin Resources Inc. boosted its stake in shares of Celestica by 18.6% in the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company's stock valued at $673,471,000 after buying an additional 356,797 shares during the period. Finally, Cibc World Market Inc. grew its position in Celestica by 30.6% during the fourth quarter. Cibc World Market Inc. now owns 2,265,680 shares of the technology company's stock worth $670,279,000 after buying an additional 530,535 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

Celestica Trading Down 3.0%

Shares of CLS stock opened at $334.62 on Thursday. The stock's fifty day moving average price is $370.09 and its two-hundred day moving average price is $331.55. The company has a market cap of $38.47 billion, a PE ratio of 40.46, a P/E/G ratio of 0.80 and a beta of 2.05. Celestica, Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $474.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.26.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Monday, April 27th. The technology company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.08. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The company had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. Celestica's revenue was up 52.8% on a year-over-year basis. Celestica has set its FY 2026 guidance at 10.150-10.150 EPS and its Q2 2026 guidance at 2.140-2.340 EPS. Equities analysts predict that Celestica, Inc. will post 9.5 EPS for the current fiscal year.

Insider Activity at Celestica

In related news, Director Michael Max Wilson sold 4,168 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $333.31, for a total value of $1,389,236.08. Following the completion of the transaction, the director owned 24,718 shares of the company's stock, valued at $8,238,756.58. This represents a 14.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mandeep Chawla sold 17,000 shares of the firm's stock in a transaction that occurred on 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 owned 82,444 shares in the company, valued at $32,948,744.60. This represents a 17.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 161,168 shares of company stock valued at $63,190,485. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CLS shares. Rothschild & Co Redburn initiated coverage on Celestica in a research note on Friday, May 1st. They set a "buy" rating and a $460.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Celestica from $410.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. BMO Capital Markets raised their price target on Celestica from $370.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Bank of America upped their price objective on shares of Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on shares of Celestica from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $427.42.

Celestica 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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