Calix, Inc $CALX Shares Bought by Summit Global Investments

Summit Global Investments grew its position in Calix, Inc (NYSE:CALX) by 125.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,825 shares of the communications equipment provider’s stock after buying an additional 20,497 shares during the quarter. Summit Global Investments’ holdings in Calix were worth $1,265,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System grew its stake in Calix by 32.6% in the 1st quarter. California State Teachers Retirement System now owns 76,344 shares of the communications equipment provider’s stock valued at $3,740,000 after acquiring an additional 18,755 shares during the last quarter. Bank of America Corp DE raised its position in Calix by 63.3% during the first quarter. Bank of America Corp DE now owns 750,117 shares of the communications equipment provider’s stock worth $36,748,000 after acquiring an additional 290,661 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Calix in the third quarter valued at about $32,090,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Calix in the second quarter valued at about $1,641,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Calix in the second quarter valued at about $1,080,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Down 0.2%

NYSE:CALX opened at $36.75 on Monday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 49.66 and a beta of 1.21. The company’s 50-day moving average is $36.20 and its two-hundred day moving average is $42.66. Calix, Inc has a 12-month low of $32.35 and a 12-month high of $71.22.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CALX shares. Roth Capital reissued a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Northland Securities upgraded Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research report on Tuesday, July 21st. Rosenblatt Securities reduced their target price on Calix from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lowered their target price on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Calix from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.40.

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.