Divisadero Street Capital Management LP Trims Stake in Celestica, Inc. $CLS

Divisadero Street Capital Management LP lowered its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 34.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,361 shares of the technology company’s stock after selling 42,639 shares during the period. Celestica makes up approximately 0.8% of Divisadero Street Capital Management LP’s investment portfolio, making the stock its 27th biggest holding. Divisadero Street Capital Management LP owned approximately 0.07% of Celestica worth $12,857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CLS. Rothschild Investment LLC raised its holdings in shares of Celestica by 20.0% in the second quarter. Rothschild Investment LLC now owns 390 shares of the technology company’s stock worth $61,000 after buying an additional 65 shares during the period. Golden State Wealth Management LLC boosted its holdings in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares during the period. First Horizon Advisors Inc. grew its position in Celestica by 33.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after acquiring an additional 87 shares during the last quarter. Freedom Investment Management Inc. grew its position in Celestica by 1.5% in the 1st quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company’s stock valued at $501,000 after acquiring an additional 96 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in Celestica by 45.6% in the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after purchasing an additional 114 shares during the period. Institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BNP Paribas reissued an “outperform” rating and set a $300.00 target price on shares of Celestica in a research note on Thursday, September 25th. TD Securities raised their price target on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. TD Cowen restated a “hold” rating and issued a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Up 0.6%

Shares of Celestica stock opened at $324.86 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The stock has a market cap of $37.36 billion, a price-to-earnings ratio of 52.74 and a beta of 1.83. The firm’s 50-day moving average is $297.53 and its two-hundred day moving average is $220.11. Celestica, Inc. has a 1 year low of $58.05 and a 1 year 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 for the quarter, topping 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 firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts expect that Celestica, Inc. will post 4.35 earnings per share 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.