G2 Investment Partners Management LLC Trims Stock Position in Celestica Inc. (NYSE:CLS)

G2 Investment Partners Management LLC cut its holdings in shares of Celestica Inc. (NYSE:CLSFree Report) (TSE:CLS) by 42.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 437,121 shares of the technology company’s stock after selling 328,761 shares during the period. Celestica makes up approximately 3.8% of G2 Investment Partners Management LLC’s investment portfolio, making the stock its largest holding. G2 Investment Partners Management LLC’s holdings in Celestica were worth $12,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLS. WCM Investment Management LLC bought a new position in Celestica during the fourth quarter worth about $67,832,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after acquiring an additional 2,054,918 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in shares of Celestica in the third quarter valued at about $41,565,000. Point72 Asset Management L.P. increased its position in shares of Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its position in shares of Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after acquiring an additional 1,309,257 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

Shares of NYSE:CLS traded up $1.50 during trading on Thursday, reaching $56.39. 1,292,340 shares of the stock were exchanged, compared to its average volume of 2,292,696. Celestica Inc. has a 12 month low of $13.46 and a 12 month high of $61.06. The firm has a market cap of $6.70 billion, a PE ratio of 20.74 and a beta of 2.28. The stock has a 50-day moving average price of $49.50 and a 200-day moving average price of $40.43. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45.

Celestica (NYSE:CLSGet Free Report) (TSE:CLS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. Research analysts expect that Celestica Inc. will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CLS. Royal Bank of Canada lifted their target price on Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Sunday, April 28th. BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. CIBC boosted their price target on Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, May 27th. Stifel Nicolaus boosted their price target on Celestica from $48.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus target price of $45.56.

View Our Latest Stock Report on CLS

Celestica Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Celestica (NYSE:CLS)

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