Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in Celestica, Inc. (NYSE:CLS)

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,697 shares of the technology company's stock, valued at approximately $1,001,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Celestica by 31.4% during the 4th quarter. Bank of New York Mellon Corp now owns 99,347 shares of the technology company's stock valued at $9,170,000 after acquiring an additional 23,725 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Celestica by 4.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after acquiring an additional 89 shares during the last quarter. Assetmark Inc. boosted its stake in Celestica by 8,394.4% during the 4th quarter. Assetmark Inc. now owns 4,587 shares of the technology company's stock valued at $423,000 after acquiring an additional 4,533 shares during the last quarter. Raymond James Financial Inc. bought a new position in Celestica during the 4th quarter valued at $47,685,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Celestica during the 4th quarter valued at $217,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CLS. BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. CIBC decreased their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Argus lowered their price objective on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded Celestica from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $120.00 price objective on shares of Celestica in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Celestica has an average rating of "Buy" and a consensus target price of $116.64.

Celestica Stock Up 3.7%

NYSE:CLS traded up $5.66 during trading hours on Friday, hitting $160.56. 2,227,845 shares of the stock traded hands, compared to its average volume of 3,387,199. The firm has a 50 day moving average price of $120.75 and a 200 day moving average price of $106.75. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. Celestica, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $160.63. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 44.23 and a beta of 1.81.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. Celestica had a net margin of 4.26% and a return on equity of 25.57%. Celestica's revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. Equities research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current year.

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.