Axim Planning & Wealth Invests $392,000 in Celestica, Inc. $CLS

Axim Planning & Wealth acquired a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,512 shares of the technology company’s stock, valued at approximately $392,000. Celestica makes up approximately 0.4% of Axim Planning & Wealth’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Celestica by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock worth $356,135,000 after purchasing an additional 35,690 shares in the last quarter. Voya Investment Management LLC grew its stake in Celestica by 362.8% during the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after acquiring an additional 1,453,473 shares in the last quarter. Royal Bank of Canada grew its stake in Celestica by 1.5% during the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock valued at $100,922,000 after acquiring an additional 19,391 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in Celestica during the first quarter valued at $96,936,000. Finally, BNP Paribas Financial Markets grew its stake in Celestica by 79.3% during the first quarter. BNP Paribas Financial Markets now owns 991,776 shares of the technology company’s stock valued at $78,162,000 after acquiring an additional 438,762 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLS has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $385.00 target price (up from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Canaccord Genuity Group raised their target price on shares of Celestica from $126.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. UBS Group raised their target price on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, New Street Research set a $400.00 price objective on shares of Celestica in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $325.13.

Celestica Stock Performance

Shares of NYSE:CLS opened at $335.52 on Wednesday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $360.99. The stock has a market capitalization of $38.60 billion, a P/E ratio of 54.47 and a beta of 1.88. The firm has a fifty day simple moving average of $258.68 and a two-hundred day simple moving average of $184.09. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

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

Insider Activity

In other news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Celestica Company 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.