Calix, Inc $CALX Stock Holdings Lowered by Connors Investor Services Inc.

Connors Investor Services Inc. lowered its position in shares of Calix, Inc (NYSE:CALX) by 14.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 87,962 shares of the communications equipment provider’s stock after selling 14,570 shares during the period. Connors Investor Services Inc.’s holdings in Calix were worth $4,679,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CALX. Illinois Municipal Retirement Fund grew its position in shares of Calix by 17.6% during the first quarter. Illinois Municipal Retirement Fund now owns 33,759 shares of the communications equipment provider’s stock worth $1,196,000 after acquiring an additional 5,045 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Calix in the first quarter worth about $922,000. Principal Financial Group Inc. lifted its holdings in Calix by 2.4% in the first quarter. Principal Financial Group Inc. now owns 294,539 shares of the communications equipment provider’s stock worth $10,438,000 after purchasing an additional 7,030 shares during the period. Huntleigh Advisors Inc. lifted its holdings in Calix by 16.6% in the first quarter. Huntleigh Advisors Inc. now owns 9,822 shares of the communications equipment provider’s stock worth $348,000 after purchasing an additional 1,397 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Calix by 332.9% in the first quarter. New York State Common Retirement Fund now owns 286,719 shares of the communications equipment provider’s stock worth $10,161,000 after purchasing an additional 220,491 shares during the period. Institutional investors own 98.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CALX. JPMorgan Chase & Co. upped their price objective on shares of Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Zacks Research downgraded shares of Calix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Rosenblatt Securities upped their price target on shares of Calix from $56.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Roth Capital upped their price target on shares of Calix from $60.00 to $69.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen raised shares of Calix from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.00.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the sale, the director directly owned 2,114,188 shares of the company’s stock, valued at approximately $117,126,015.20. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 76,555 shares of the company’s stock, valued at $4,593,300. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

Calix Trading Down 0.4%

CALX stock opened at $59.29 on Thursday. Calix, Inc has a one year low of $28.60 and a one year high of $64.30. The firm has a market capitalization of $3.87 billion, a PE ratio of -148.21 and a beta of 1.32. The firm has a 50-day moving average of $60.13 and a two-hundred day moving average of $51.48.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.41. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The company had revenue of $241.90 million during the quarter, compared to analyst estimates of $223.81 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current year.

Calix Company Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.