Cim LLC Cuts Stake in Celestica Inc. (NYSE:CLS)

Cim LLC reduced its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,878 shares of the technology company’s stock after selling 380 shares during the period. Cim LLC’s holdings in Celestica were worth $2,112,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Peregrine Capital Management LLC bought a new position in shares of Celestica during the fourth quarter valued at $30,000. Pinpoint Asset Management Ltd lifted its holdings in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares during the period. Bessemer Group Inc. bought a new position in Celestica in the fourth quarter valued at about $42,000. R Squared Ltd bought a new position in Celestica in the fourth quarter valued at about $51,000. Finally, IFP Advisors Inc lifted its holdings in Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 368 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Performance

Shares of CLS opened at $119.61 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $91.04 and a two-hundred day simple moving average of $97.69. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 31.98 and a beta of 1.65. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, analysts expect that Celestica Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLS shares. Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 target price on shares of Celestica in a report on Monday, April 28th. Barclays lowered their target price on Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. TD Securities increased their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus increased their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, CIBC lowered their target price on Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.82.

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.