Celestica (CLS) Rides Broadcom Jump to Fresh Peak

We recently published Monstrous Gains: 10 Stocks Leaving Wall Street in the Dust. Celestica Inc. (NYSE:CLS) is one of the best performers on Friday.

Celestica soared to a new all-time high on Friday, extending a winning streak for a fourth consecutive day, as optimism for semiconductor giant Broadcom Inc. (NASDAQ:AVGO) spilled over to the company.

During the session, Celestica Inc. (NYSE:CLS) climbed to a new 52-week high of $257.4, or a 16-percent jump, before trimming gains to finish the day up by only 9.64 percent at $242.68 apiece.

This followed Broadcom’s stellar earnings report and news of a newly clinched $10 billion custom chip supply deal with OpenAI. Investors highly expected that the new deal would largely benefit Celestica Inc. (NYSE:CLS) in terms of revenues, having been a longtime manufacturing and supply chain partner of the semiconductor giant.

In recent news, Celestica Inc. (NYSE:CLS) said net income for the second quarter of the year jumped by 122 percent to $211 million from $95 million in the same period last year. Revenues grew by 21 percent to $2.89 billion from $2.39 billion year-on-year.

For full-year 2025, Celestica Inc. (NYSE:CLS) has raised its revenue growth outlook to $11.55 billion from $10.85 billion as expected previously, while that for the third quarter is targeted at a range of $2.875 billion to $3.125 billion.

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Disclosure: None. This article is originally published at Insider Monkey.