Hsbc Holdings PLC Acquires 6,339 Shares of Celestica, Inc. $CLS

Hsbc Holdings PLC lifted its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 794.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,137 shares of the technology company’s stock after buying an additional 6,339 shares during the quarter. Hsbc Holdings PLC’s holdings in Celestica were worth $1,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLS. Vanguard Group Inc. boosted its holdings in Celestica by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,811,695 shares of the technology company’s stock valued at $1,423,333,000 after acquiring an additional 73,022 shares during the period. JPMorgan Chase & Co. increased its stake in Celestica by 24.8% in the fourth quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company’s stock worth $1,187,650,000 after purchasing an additional 798,782 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Celestica by 5,806,149.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock worth $1,081,323,000 after purchasing an additional 3,657,874 shares during the period. Franklin Resources Inc. lifted its position in shares of Celestica by 18.6% during the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company’s stock worth $673,471,000 after purchasing an additional 356,797 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Celestica by 30.6% during the fourth quarter. Cibc World Market Inc. now owns 2,265,680 shares of the technology company’s stock worth $670,279,000 after purchasing an additional 530,535 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

CLS has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Celestica from $338.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. TD lifted their price objective on shares of Celestica from $330.00 to $350.00 and gave the company a “hold” rating in a report on Monday, April 20th. Barclays lifted their price objective on shares of Celestica from $391.00 to $441.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Royal Bank Of Canada upped their target price on shares of Celestica from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Celestica from $410.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Celestica currently has an average rating of “Buy” and a consensus price target of $427.42.

Celestica Price Performance

CLS opened at $305.05 on Monday. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 0.71 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.36. Celestica, Inc. has a 12-month low of $164.52 and a 12-month high of $474.02. The business’s fifty day simple moving average is $362.06 and its 200-day simple moving average is $332.50.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, April 27th. The technology company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.08. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. On average, equities research analysts anticipate that Celestica, Inc. will post 9.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Celestica

In other Celestica news, CFO Mandeep Chawla sold 17,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $399.65, for a total transaction of $6,794,050.00. Following the transaction, the chief financial officer owned 82,444 shares of the company’s stock, valued at approximately $32,948,744.60. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Max Wilson sold 4,168 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $333.31, for a total transaction of $1,389,236.08. Following the completion of the sale, the director owned 24,718 shares of the company’s stock, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 161,168 shares of company stock valued at $63,190,485. Company insiders own 1.10% of the company’s stock.

About Celestica

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.