Bank of New York Mellon Corp Purchases 8,884 Shares of Celestica, Inc. $CLS

Bank of New York Mellon Corp increased its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,351 shares of the technology company’s stock after acquiring an additional 8,884 shares during the period. Bank of New York Mellon Corp’s holdings in Celestica were worth $20,349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CLS. Envestnet Asset Management Inc. boosted its position in Celestica by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 144,083 shares of the technology company’s stock worth $11,359,000 after purchasing an additional 12,279 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Celestica by 12.3% in the 1st quarter. Cerity Partners LLC now owns 11,328 shares of the technology company’s stock worth $893,000 after purchasing an additional 1,245 shares during the period. CWM LLC lifted its stake in shares of Celestica by 603.7% in the 1st quarter. CWM LLC now owns 1,921 shares of the technology company’s stock worth $151,000 after purchasing an additional 1,648 shares during the period. Signaturefd LLC boosted its holdings in shares of Celestica by 11.1% in the first quarter. Signaturefd LLC now owns 3,829 shares of the technology company’s stock worth $302,000 after buying an additional 383 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Celestica during the first quarter valued at approximately $20,229,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was 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 owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CLS shares. Canaccord Genuity Group increased their price target on shares of Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. TD Cowen restated a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research note on Friday, October 3rd. Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Barclays boosted their price target on Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday. Finally, CICC Research initiated coverage on Celestica in a research note on Tuesday, August 19th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Performance

NYSE:CLS opened at $309.17 on Friday. The stock has a 50-day moving average price of $277.62 and a 200 day moving average price of $196.93. The stock has a market capitalization of $35.56 billion, a P/E ratio of 50.19 and a beta of 1.85. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. 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 (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal 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.