Calix, Inc. (NYSE:CALX) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Calix, Inc. (NYSE:CALX) by 47.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 429,771 shares of the communications equipment provider’s stock after selling 382,282 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.65% of Calix worth $16,671,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. State of Alaska Department of Revenue grew its stake in shares of Calix by 463.7% in the first quarter. State of Alaska Department of Revenue now owns 35,711 shares of the communications equipment provider’s stock valued at $1,184,000 after buying an additional 29,376 shares in the last quarter. Norden Group LLC boosted its stake in shares of Calix by 32.9% in the first quarter. Norden Group LLC now owns 10,981 shares of the communications equipment provider’s stock valued at $364,000 after purchasing an additional 2,721 shares during the period. BNP Paribas Financial Markets grew its holdings in Calix by 8.5% during the 1st quarter. BNP Paribas Financial Markets now owns 53,995 shares of the communications equipment provider’s stock valued at $1,790,000 after purchasing an additional 4,231 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Calix during the 1st quarter worth $321,000. Finally, GSA Capital Partners LLP acquired a new position in Calix in the 1st quarter worth $1,201,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CALX. JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday, October 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. Craig Hallum upped their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm lifted their target price on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Calix Stock Down 4.0 %

Shares of NYSE:CALX traded down $1.38 during trading on Thursday, hitting $33.15. 86,452 shares of the company traded hands, compared to its average volume of 729,465. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -143.96 and a beta of 1.75. Calix, Inc. has a one year low of $26.76 and a one year high of $45.15. The business’s fifty day moving average is $37.32 and its 200-day moving average is $35.44.

Calix (NYSE:CALX) last issued its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $200.95 million for the quarter, compared to analyst estimates of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The firm’s revenue for the quarter was down 23.8% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, analysts forecast that Calix, Inc. will post -0.36 EPS for the current year.

About Calix

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.