Connors Investor Services Inc. Has $3 Million Stake in Calix, Inc. (NYSE:CALX)

Connors Investor Services Inc. lifted its position in shares of Calix, Inc. (NYSE:CALX) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,790 shares of the communications equipment provider’s stock after buying an additional 26,248 shares during the quarter. Connors Investor Services Inc. owned about 0.13% of Calix worth $3,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CALX. Louisiana State Employees Retirement System lifted its stake in shares of Calix by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 300 shares during the period. Portside Wealth Group LLC grew its stake in shares of Calix by 4.4% in the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock valued at $256,000 after buying an additional 301 shares during the period. Nisa Investment Advisors LLC raised its stake in Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after buying an additional 303 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Calix by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after acquiring an additional 348 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Calix by 3.3% during the 2nd quarter. Victory Capital Management Inc. now owns 20,262 shares of the communications equipment provider’s stock worth $718,000 after buying an additional 654 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Trading Up 0.1 %

Shares of NYSE CALX opened at $36.06 on Tuesday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 116.32 and a beta of 1.74. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $47.15. The stock’s 50-day moving average is $36.65 and its 200 day moving average is $34.23.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, analysts forecast that Calix, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CALX shares. Craig Hallum boosted their price objective on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Roth Mkm boosted their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.