Allspring Global Investments Holdings LLC Sells 12,293 Shares of Celestica, Inc. $CLS

Allspring Global Investments Holdings LLC lessened its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 4.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 251,536 shares of the technology company’s stock after selling 12,293 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Celestica were worth $63,309,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CLS. Golden State Wealth Management LLC increased its stake in Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of Celestica in the 2nd quarter worth approximately $37,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Celestica in the 2nd quarter worth about $40,000. Hilltop National Bank lifted its position in shares of Celestica by 86.0% during the third quarter. Hilltop National Bank now owns 186 shares of the technology company’s stock worth $46,000 after acquiring an additional 86 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Celestica by 33.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock worth $55,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Celestica Stock Down 1.2%

Shares of NYSE CLS opened at $295.88 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The firm has a fifty day simple moving average of $316.66 and a two-hundred day simple moving average of $243.40. The firm has a market capitalization of $34.04 billion, a PE ratio of 48.03 and a beta of 1.87.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. Equities analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

CLS has been the subject of several recent analyst reports. CIBC boosted their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Barclays raised their price target on shares of Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Royal Bank Of Canada boosted their price target on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $370.00 price objective on Celestica and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $336.13.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.