Calix, Inc. (NYSE:CALX) Director Sells $953,750.00 in Stock

Calix, Inc. (NYSE:CALX) Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the sale, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Calix Trading Down 0.4 %

Shares of CALX traded down $0.16 during mid-day trading on Friday, hitting $36.97. The company’s stock had a trading volume of 576,240 shares, compared to its average volume of 681,750. The company’s 50-day moving average is $38.06 and its 200-day moving average is $36.65. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $42.50. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -82.15 and a beta of 1.70.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. As a group, sell-side analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Millennium Management LLC lifted its position in Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock valued at $70,828,000 after acquiring an additional 889,102 shares during the last quarter. Vanguard Group Inc. increased its stake in Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after purchasing an additional 412,982 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Calix by 711.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock valued at $15,205,000 after purchasing an additional 382,301 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Calix by 105.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock valued at $24,713,000 after purchasing an additional 364,209 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in Calix by 30.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after purchasing an additional 361,805 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CALX. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

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.