China Universal Asset Management Co. Ltd. Cuts Stock Position in Celestica, Inc. $CLS

China Universal Asset Management Co. Ltd. decreased its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 35.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,000 shares of the technology company’s stock after selling 6,700 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Celestica were worth $1,873,000 at the end of the most recent reporting period.

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

Celestica Trading Down 12.7%

Shares of Celestica stock opened at $306.71 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. The company has a fifty day simple moving average of $306.74 and a 200-day simple moving average of $227.06. The stock has a market cap of $35.27 billion, a price-to-earnings ratio of 49.79 and a beta of 1.83. Celestica, Inc. has a 12-month low of $58.05 and a 12-month 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, beating analysts’ consensus estimates 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 period in the previous year, the company earned $1.04 earnings per share. Celestica’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity

In other news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets set a $370.00 price objective on Celestica and gave the company an “outperform” rating in a research note on Wednesday, October 29th. New Street Research set a $400.00 price target on shares of Celestica in a research note on Wednesday, October 29th. TD Cowen reissued a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, UBS Group boosted their target price on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

About Celestica

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.