Celestica Inc. (CLS) Forms $11.16 Double Bottom; Jericho Capital Asset Management LP Decreased Its Marvell Technology Group LTD (MRVL) Holding

March 21, 2018 - By Jerrie Dane

Celestica Inc. (CLS) formed double bottom with $10.60 target or 5.00% below today’s $11.16 share price. Celestica Inc. (CLS) has $1.58 billion valuation. The stock decreased 1.15% or $0.13 during the last trading session, reaching $11.16. About 624,057 shares traded. Celestica Inc. (NYSE:CLS) has risen 35.94% since March 21, 2017 and is uptrending. It has outperformed by 19.24% the S&P500.

Jericho Capital Asset Management Lp decreased Marvell Technology Group Ltd (MRVL) stake by 26.08% reported in 2017Q3 SEC filing. Jericho Capital Asset Management Lp sold 1.60 million shares as Marvell Technology Group Ltd (MRVL)’s stock rose 1.27%. The Jericho Capital Asset Management Lp holds 4.55 million shares with $81.42 million value, down from 6.15M last quarter. Marvell Technology Group Ltd now has $11.47B valuation. The stock increased 1.31% or $0.3 during the last trading session, reaching $23.12. About 7.53M shares traded. Marvell Technology Group Ltd. (NASDAQ:MRVL) has risen 64.54% since March 21, 2017 and is uptrending. It has outperformed by 47.84% the S&P500.

Analysts await Celestica Inc. (NYSE:CLS) to report earnings on April, 19. They expect $0.16 earnings per share, down 33.33% or $0.08 from last year’s $0.24 per share. CLS’s profit will be $22.71M for 17.44 P/E if the $0.16 EPS becomes a reality. After $0.10 actual earnings per share reported by Celestica Inc. for the previous quarter, Wall Street now forecasts 60.00% EPS growth.

Among 12 analysts covering Celestica (NYSE:CLS), 3 have Buy rating, 0 Sell and 9 Hold. Therefore 25% are positive. Celestica has $15.5000 highest and $0.75 lowest target. $12.80’s average target is 14.70% above currents $11.16 stock price. Celestica had 36 analyst reports since October 21, 2015 according to SRatingsIntel. RBC Capital Markets maintained it with “Hold” rating and $15.0 target in Wednesday, August 16 report. BMO Capital Markets maintained the shares of CLS in report on Wednesday, January 24 with “Hold” rating. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, January 24. The stock of Celestica Inc. (NYSE:CLS) earned “Hold” rating by BMO Capital Markets on Friday, October 27. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, January 15. The stock has “Hold” rating by Standpoint Research on Friday, November 18. The firm earned “Hold” rating on Tuesday, February 2 by TD Securities. The stock of Celestica Inc. (NYSE:CLS) earned “Hold” rating by Macquarie Research on Thursday, June 22. RBC Capital Markets maintained Celestica Inc. (NYSE:CLS) rating on Wednesday, October 21. RBC Capital Markets has “Sector Perform” rating and $14.0 target. The rating was maintained by RBC Capital Markets on Wednesday, September 20 with “Hold”.

Analysts await Marvell Technology Group Ltd. (NASDAQ:MRVL) to report earnings on May, 24. They expect $0.26 earnings per share, up 30.00% or $0.06 from last year’s $0.2 per share. MRVL’s profit will be $128.93M for 22.23 P/E if the $0.26 EPS becomes a reality. After $0.28 actual earnings per share reported by Marvell Technology Group Ltd. for the previous quarter, Wall Street now forecasts -7.14% negative EPS growth.

Jericho Capital Asset Management Lp increased Pandora Media Inc (NYSE:P) stake by 1.78M shares to 14.29 million valued at $110.03 million in 2017Q3. It also upped 58 Com Inc (NYSE:WUBA) stake by 141,660 shares and now owns 1.19 million shares. Liberty Media Corp Delaware was raised too.

Among 38 analysts covering Marvell Technology Group (NASDAQ:MRVL), 25 have Buy rating, 1 Sell and 12 Hold. Therefore 66% are positive. Marvell Technology Group had 125 analyst reports since August 5, 2015 according to SRatingsIntel. Cowen & Co maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) rating on Tuesday, June 13. Cowen & Co has “Buy” rating and $2100 target. The rating was maintained by Oppenheimer on Friday, March 9 with “Buy”. Oppenheimer maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) on Tuesday, June 13 with “Buy” rating. The firm has “Buy” rating given on Wednesday, June 21 by Cowen & Co. Piper Jaffray maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) on Thursday, March 8 with “Buy” rating. Cowen & Co maintained the stock with “Outperform” rating in Monday, September 14 report. KeyBanc Capital Markets maintained Marvell Technology Group Ltd. (NASDAQ:MRVL) on Friday, August 25 with “Overweight” rating. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) earned “Hold” rating by Jefferies on Monday, July 10. The company was maintained on Monday, July 10 by Susquehanna. The stock of Marvell Technology Group Ltd. (NASDAQ:MRVL) earned “Sell” rating by B. Riley & Co on Tuesday, October 27.