VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.88 Million Position in Calix, Inc $CALX

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Calix, Inc (NYSE:CALX) in the second quarter, Holdings Channel reports. The institutional investor acquired 35,283 shares of the communications equipment provider’s stock, valued at approximately $1,877,000.

A number of other institutional investors also recently made changes to their positions in CALX. Assenagon Asset Management S.A. boosted its stake in shares of Calix by 135.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 947,738 shares of the communications equipment provider’s stock valued at $50,410,000 after purchasing an additional 545,490 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Calix in the 1st quarter valued at $15,207,000. Penn Capital Management Company LLC purchased a new stake in shares of Calix in the 1st quarter valued at $12,018,000. Alliancebernstein L.P. boosted its stake in shares of Calix by 12.1% in the 1st quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider’s stock valued at $88,927,000 after purchasing an additional 270,397 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Calix in the 1st quarter valued at $8,620,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CALX shares. Wolfe Research started coverage on shares of Calix in a research note on Monday, July 7th. They issued a “peer perform” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Calix in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Calix from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Roth Capital increased their price target on shares of Calix from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Needham & Company LLC increased their price target on shares of Calix from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Calix presently has a consensus rating of “Hold” and an average price target of $64.00.

Calix Stock Down 1.0%

Shares of CALX opened at $59.53 on Wednesday. The stock has a market capitalization of $3.89 billion, a P/E ratio of -148.82 and a beta of 1.32. The firm has a fifty day simple moving average of $60.12 and a two-hundred day simple moving average of $51.43. Calix, Inc has a twelve month low of $28.60 and a twelve month high of $64.30.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $223.81 million. During the same quarter in the prior year, the company posted $0.09 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts expect that Calix, Inc will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total value of $1,385,000.00. Following the completion of the transaction, the director directly owned 2,114,188 shares in the company, valued at approximately $117,126,015.20. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cory Sindelar sold 10,000 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 76,555 shares of the company’s stock, valued at $4,593,300. This trade 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 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.