Light Street Capital Management LLC Acquires New Position in Celestica, Inc. $CLS

Light Street Capital Management LLC bought a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the second quarter, HoldingsChannel.com reports. The firm bought 169,252 shares of the technology company’s stock, valued at approximately $26,422,000. Celestica comprises 5.4% of Light Street Capital Management LLC’s portfolio, making the stock its 7th biggest position.

Several other large investors have also added to or reduced their stakes in CLS. Atria Wealth Solutions Inc. boosted its position in shares of Celestica by 75.1% in the first quarter. Atria Wealth Solutions Inc. now owns 4,075 shares of the technology company’s stock worth $321,000 after purchasing an additional 1,748 shares during the period. Vanguard Group Inc. boosted its holdings in Celestica by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock worth $356,135,000 after buying an additional 35,690 shares during the period. Deutsche Bank AG boosted its holdings in Celestica by 616.4% in the 1st quarter. Deutsche Bank AG now owns 153,602 shares of the technology company’s stock worth $12,105,000 after buying an additional 132,160 shares during the period. Nuveen LLC purchased a new stake in Celestica in the 1st quarter worth $6,443,000. Finally, HighTower Advisors LLC raised its holdings in Celestica by 14.5% during the first quarter. HighTower Advisors LLC now owns 8,645 shares of the technology company’s stock valued at $681,000 after acquiring an additional 1,098 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CLS shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $385.00 price objective (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Barclays upped their price target on Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. TD Securities lifted their price objective on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group upped their target price on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, New Street Research set a $400.00 target price on shares of Celestica in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $336.13.

Insider Buying and Selling

In related news, Director Laurette T. Koellner acquired 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Celestica Price Performance

Celestica stock opened at $306.71 on Friday. The company has a market cap of $35.27 billion, a price-to-earnings ratio of 49.79 and a beta of 1.83. The firm’s fifty day moving average is $306.74 and its 200 day moving average is $226.31. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 27.8% on a year-over-year basis. Sell-side analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Celestica 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.