Celestica Inc. (NYSE:CLS) Stock Position Lowered by Portolan Capital Management LLC

Portolan Capital Management LLC reduced its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 730,946 shares of the technology company’s stock after selling 22,170 shares during the period. Celestica makes up about 2.7% of Portolan Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Portolan Capital Management LLC’s holdings in Celestica were worth $37,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CLS. Janus Henderson Group PLC grew its holdings in Celestica by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 37,467 shares of the technology company’s stock valued at $1,919,000 after purchasing an additional 3,545 shares in the last quarter. Centiva Capital LP grew its stake in shares of Celestica by 15.4% during the third quarter. Centiva Capital LP now owns 11,364 shares of the technology company’s stock valued at $581,000 after acquiring an additional 1,515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Celestica during the third quarter worth about $5,715,000. PDT Partners LLC lifted its stake in shares of Celestica by 36.0% in the third quarter. PDT Partners LLC now owns 82,602 shares of the technology company’s stock worth $4,223,000 after acquiring an additional 21,874 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Celestica by 6.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,002 shares of the technology company’s stock valued at $1,380,000 after purchasing an additional 1,530 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Performance

Shares of NYSE CLS opened at $89.44 on Wednesday. Celestica Inc. has a 12-month low of $25.83 and a 12-month high of $93.15. The company has a market cap of $10.41 billion, a PE ratio of 28.39 and a beta of 2.27. The stock has a 50 day simple moving average of $70.16 and a 200-day simple moving average of $59.12. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CLS. TD Securities upped their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price target on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Stifel Nicolaus increased their target price on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Barclays began coverage on Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.45.

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.