Norges Bank Buys New Shares in Celestica, Inc. $CLS

Norges Bank bought a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,510,917 shares of the technology company’s stock, valued at approximately $236,069,000.

Other hedge funds have also added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in shares of Celestica by 362.8% during the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after buying an additional 1,453,473 shares during the last quarter. Alkeon Capital Management LLC purchased a new stake in Celestica during the 1st quarter valued at about $96,936,000. Alliancebernstein L.P. grew its position in Celestica by 405.5% during the 1st quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after acquiring an additional 587,145 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Celestica in the 2nd quarter worth approximately $90,425,000. Finally, JAT Capital Mgmt LP bought a new stake in Celestica in the first quarter valued at approximately $40,077,000. 67.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. New Street Research set a $400.00 target price on shares of Celestica in a report on Wednesday, October 29th. BMO Capital Markets set a $370.00 price target on shares of Celestica and gave the company an “outperform” rating in a research report on Wednesday, October 29th. TD Cowen reissued a “hold” rating and issued a $238.00 price target on shares of Celestica in a report on Friday, October 3rd. TD Securities upped their price objective on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Insider Buying and Selling at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Celestica Trading Down 7.8%

NYSE:CLS opened at $317.63 on Tuesday. The company has a 50-day moving average price of $292.04 and a 200-day moving average price of $214.41. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 51.56 and a beta of 1.85. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $1.04 earnings per share. Celestica’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts predict that Celestica, Inc. will post 4.35 EPS 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.