Penserra Capital Management LLC Cuts Holdings in Celestica Inc. (NYSE:CLS)

Penserra Capital Management LLC cut its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 88.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,819 shares of the technology company's stock after selling 198,082 shares during the period. Penserra Capital Management LLC's holdings in Celestica were worth $1,319,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in Celestica in the 3rd quarter worth about $30,000. UMB Bank n.a. purchased a new position in Celestica in the 3rd quarter worth about $34,000. Wolff Wiese Magana LLC lifted its holdings in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock valued at $40,000 after buying an additional 170 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica in the 3rd quarter valued at about $51,000. 67.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Celestica from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their target price on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. TD Securities increased their price target on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $71.45.

Celestica Stock Down 4.0 %

Shares of CLS stock traded down $3.49 during trading hours on Wednesday, reaching $83.18. 3,867,469 shares of the company's stock were exchanged, compared to its average volume of 2,302,665. Celestica Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $93.15. The stock's 50 day moving average is $66.53 and its 200-day moving average is $57.88. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 25.86 and a beta of 2.24.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Analysts predict that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Celestica 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.