Cypress Capital Management LLC WY Has $1.51 Million Stake in Celestica, Inc. $CLS

Cypress Capital Management LLC WY trimmed its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,652 shares of the technology company’s stock after selling 350 shares during the period. Celestica accounts for 1.6% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 18th biggest holding. Cypress Capital Management LLC WY’s holdings in Celestica were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CLS. Golden State Wealth Management LLC boosted its position 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 worth $26,000 after buying an additional 83 shares during the period. ST Germain D J Co. Inc. purchased a new stake in Celestica in the 2nd quarter worth about $37,000. First Horizon Advisors Inc. boosted its position in Celestica by 33.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock worth $55,000 after acquiring an additional 87 shares during the period. 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 valued at $57,000 after acquiring an additional 114 shares in the last quarter. Finally, Flaharty Asset Management LLC acquired a new position in shares of Celestica in the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently commented on CLS. The Goldman Sachs Group raised their price target on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays lifted their target price on shares of Celestica from $220.00 to $357.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. CICC Research began coverage on shares of Celestica in a research note on Tuesday, August 19th. They issued an “outperform” rating on the stock. Stifel Nicolaus reissued a “buy” rating and set a $385.00 price objective (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. Finally, Citigroup boosted their target price on Celestica from $172.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $325.13.

Celestica Trading Down 5.4%

Shares of NYSE:CLS opened at $322.22 on Friday. The stock has a market capitalization of $37.07 billion, a PE ratio of 52.31 and a beta of 1.85. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The firm has a fifty day moving average price of $266.82 and a 200 day moving average price of $188.03. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

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 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 business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Analysts expect that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

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.