Short Interest in Calix, Inc. (NYSE:CALX) Declines By 5.8%

Calix, Inc. (NYSE:CALX) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 2,940,000 shares, a drop of 5.8% from the July 31st total of 3,120,000 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average trading volume of 648,500 shares, the short-interest ratio is presently 4.5 days.

Analysts Set New Price Targets

Several analysts have issued reports on CALX shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Tuesday, August 20th. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Roth Mkm raised their price target on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Craig Hallum upped their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Insider Activity

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

Institutional Investors Weigh In On Calix

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Calix by 14.0% during the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Calix by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after buying an additional 45,656 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after acquiring an additional 166,695 shares during the period. TD Asset Management Inc boosted its position in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in Calix by 9.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after acquiring an additional 115,500 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Performance

CALX opened at $36.96 on Wednesday. The stock has a fifty day moving average of $36.49 and a 200-day moving average of $34.15. The company has a market capitalization of $2.43 billion, a P/E ratio of 119.23 and a beta of 1.76. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $48.53.

Calix (NYSE:CALX) last issued its quarterly earnings data 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. Calix had a net margin of 0.52% and a return on equity of 4.17%. The business had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s revenue was down 24.1% on a year-over-year basis. On average, equities research analysts predict that Calix will post -0.36 earnings per share for the current fiscal 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.